Brighton Jones LLC Purchases 5,715 Shares of Starbucks Co. (NASDAQ:SBUX)

Brighton Jones LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,017 shares of the coffee company’s stock after purchasing an additional 5,715 shares during the period. Brighton Jones LLC’s holdings in Starbucks were worth $11,990,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBUX. Vima LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter worth $26,000. Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research reports. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Jefferies Financial Group lowered their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $305,597.50. Following the completion of the sale, 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.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.90 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a market capitalization of $109.81 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. The business’s 50-day simple moving average is $86.24 and its 200-day simple moving average is $84.07.

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 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 for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 EPS. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

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.