Brown Financial Advisors Buys New Shares in Starbucks Co. (NASDAQ:SBUX)

Brown Financial Advisors bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the second quarter, Holdings Channel reports. The institutional investor bought 17,665 shares of the coffee company’s stock, valued at approximately $1,375,000.

A number of other institutional investors also recently modified their holdings of SBUX. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter valued at $415,167,000. Marshall Wace LLP raised its holdings in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors acquired a new position in Starbucks during the first quarter worth $257,721,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Citigroup upped their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.12.

Starbucks Stock Down 0.1 %

NASDAQ SBUX opened at $97.43 on Wednesday. The company has a market cap of $110.41 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm’s 50-day simple moving average is $89.58 and its two-hundred day simple moving average is $84.24.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now 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 available at this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now 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 available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. 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.