E Fund Management Co. Ltd. Acquires 204 Shares of Starbucks Co. (NASDAQ:SBUX)

E Fund Management Co. Ltd. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,347 shares of the coffee company’s stock after purchasing an additional 204 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Starbucks were worth $883,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter worth approximately $26,000. Vima LLC bought a new position in Starbucks in the fourth quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the fourth quarter worth approximately $27,000. Fairman Group LLC bought a new position in Starbucks in the fourth quarter worth approximately $30,000. Finally, Raleigh Capital Management Inc. raised its stake in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly 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. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 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. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.3 %

SBUX stock opened at $96.12 on Thursday. The company’s 50-day simple moving average is $85.77 and its 200-day simple moving average is $83.98. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market cap of $108.92 billion, a P/E ratio of 26.48, a PEG ratio of 2.38 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Citigroup upped their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Jefferies Financial Group reduced their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $100.08.

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.