Atomi Financial Group Inc. Has $1.28 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Atomi Financial Group Inc. grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 27.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,120 shares of the coffee company’s stock after purchasing an additional 2,843 shares during the period. Atomi Financial Group Inc.’s holdings in Starbucks were worth $1,279,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP lifted its holdings in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks during the 2nd quarter worth approximately $243,910,000. Flossbach Von Storch AG lifted its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Capital World Investors bought a new stake in shares of Starbucks during the 1st quarter worth approximately $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent analyst reports. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Morgan Stanley reissued an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Trading Up 0.1 %

Starbucks stock opened at $96.21 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market capitalization of $108.98 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The firm’s fifty day moving average price is $91.33 and its two-hundred day moving average price is $84.36.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Starbucks 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.