Alley Investment Management Company LLC Has $11.22 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Alley Investment Management Company LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 144,115 shares of the coffee company’s stock after purchasing an additional 1,620 shares during the quarter. Alley Investment Management Company LLC’s holdings in Starbucks were worth $11,219,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SBUX. Vima LLC acquired a new stake in Starbucks in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks in the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during 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 during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 1.1 %

SBUX stock opened at $94.45 on Wednesday. The firm has a market cap of $107.03 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The stock has a 50-day moving average price of $87.50 and a 200-day moving average price of $84.04. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate 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 for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. On average, analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on 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 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 owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.92.

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.