Cascade Investment Advisors Inc. Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Cascade Investment Advisors Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,790 shares of the coffee company’s stock after acquiring an additional 1,110 shares during the period. Starbucks accounts for approximately 1.2% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 27th biggest position. Cascade Investment Advisors Inc.’s holdings in Starbucks were worth $1,929,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBUX. Cox Capital Mgt LLC increased its position in shares of Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Starbucks during the 4th quarter worth about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth about $31,246,000. Fidelis Capital Partners LLC increased its position in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Finally, TKG Advisors LLC increased its position in shares of Starbucks by 4.6% during the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after purchasing an additional 860 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBUX. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Citigroup lifted their target price on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Finally, TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Stock Down 1.0 %

SBUX stock opened at $96.50 on Thursday. The business has a 50 day moving average price of $90.02 and a 200 day moving average price of $84.32. The stock has a market cap of $109.31 billion, a price-to-earnings 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 posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Insider Buying and Selling at Starbucks

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

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.