MBB Public Markets I LLC Has $6.26 Million Position in Starbucks Co. (NASDAQ:SBUX)

MBB Public Markets I LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 2,424.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 80,346 shares of the coffee company’s stock after purchasing an additional 77,163 shares during the quarter. MBB Public Markets I LLC’s holdings in Starbucks were worth $6,255,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in Starbucks in the fourth quarter worth $26,000. Vima LLC bought a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Fairman Group LLC acquired a new position in shares of Starbucks during the 4th quarter valued at about $30,000. Raleigh Capital Management Inc. raised its stake in shares of Starbucks by 150.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 198 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SBUX shares. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Starbucks Price Performance

Starbucks stock opened at $97.36 on Friday. The business has a 50 day simple moving average of $88.74 and a 200 day simple moving average of $84.26. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market capitalization of $110.33 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.26 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 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 quarter in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

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

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.