Annandale Capital LLC Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Annandale Capital LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 60.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,775 shares of the coffee company’s stock after purchasing an additional 3,700 shares during the quarter. Annandale Capital LLC’s holdings in Starbucks were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks in the first quarter valued at approximately $415,167,000. Marshall Wace LLP boosted its position 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 purchasing an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the 2nd quarter worth $243,910,000. Flossbach Von Storch AG increased its holdings in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors acquired a new stake in shares of Starbucks in the first quarter valued at about $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Barclays boosted their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup boosted their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $100.52.

Starbucks Stock Performance

Starbucks stock opened at $97.36 on Friday. The company has a market cap of $110.28 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50 day moving average price of $88.74 and a 200 day moving average price of $84.20.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale 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.