240,259 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 240,259 shares of the coffee company’s stock, valued at approximately $18,704,000.

Other large investors also recently modified their holdings of the company. CWA Asset Management Group LLC boosted its holdings in shares of Starbucks by 40.9% in the 4th quarter. CWA Asset Management Group LLC now owns 4,708 shares of the coffee company’s stock valued at $452,000 after buying an additional 1,367 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Starbucks by 4.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 382,057 shares of the coffee company’s stock worth $36,681,000 after purchasing an additional 17,640 shares during the last quarter. Edge Capital Group LLC raised its holdings in shares of Starbucks by 3.4% in the 4th quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock valued at $390,000 after purchasing an additional 134 shares during the period. Cetera Advisor Networks LLC lifted its stake in Starbucks by 7.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 255,107 shares of the coffee company’s stock valued at $24,493,000 after purchasing an additional 16,967 shares during the last quarter. Finally, Exencial Wealth Advisors LLC increased its position in Starbucks by 18.9% during the fourth quarter. Exencial Wealth Advisors LLC now owns 6,387 shares of the coffee company’s stock worth $613,000 after buying an additional 1,014 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

NASDAQ SBUX opened at $96.50 on Thursday. The business has a fifty day moving average price of $90.02 and a two-hundred day moving average price of $84.32. The stock has a market capitalization of $109.31 billion, a PE ratio of 26.58, a PEG ratio of 2.33 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the company earned $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.12.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.