Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Lazari Capital Management Inc.

Lazari Capital Management Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,738 shares of the coffee company’s stock after purchasing an additional 2,044 shares during the quarter. Lazari Capital Management Inc.’s holdings in Starbucks were worth $1,381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Versant Capital Management Inc raised its holdings in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the last quarter. Edge Capital Group LLC raised its holdings in shares of Starbucks by 3.4% in the fourth quarter. Edge Capital Group LLC now owns 4,062 shares of the coffee company’s stock worth $390,000 after acquiring an additional 134 shares during the last quarter. M&R Capital Management Inc. raised its holdings in shares of Starbucks by 30.9% in the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Finally, Fragasso Financial Advisors Inc raised its holdings in shares of Starbucks by 1.1% in the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after acquiring an additional 135 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.1 %

NASDAQ SBUX opened at $97.43 on Wednesday. The stock has a market cap of $110.41 billion, a PE ratio of 26.84, a P/E/G ratio of 2.33 and a beta of 0.96. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The business has a 50 day moving average price of $89.58 and a two-hundred day moving average price of $84.24.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.12.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink. In other news, 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 transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks 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 completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

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.