Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Davis Capital Management

Davis Capital Management boosted its position in Starbucks Co. (NASDAQ:SBUX) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,920 shares of the coffee company’s stock after purchasing an additional 642 shares during the period. Davis Capital Management’s holdings in Starbucks were worth $1,162,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the second quarter valued at approximately $25,000. Vima LLC purchased a new position in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter worth $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter valued at $26,000. Finally, Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock opened at $96.50 on Thursday. The stock has a 50-day simple moving average of $90.02 and a 200-day simple moving average of $84.32. The firm has a market cap of $109.31 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insiders Place Their Bets

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

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Company Profile

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.