Royal London Asset Management Ltd. Purchases 7,233 Shares of Starbucks Co. (NASDAQ:SBUX)

Royal London Asset Management Ltd. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 450,600 shares of the coffee company’s stock after buying an additional 7,233 shares during the period. Royal London Asset Management Ltd.’s holdings in Starbucks were worth $35,079,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SBUX. Norges Bank purchased a new position in shares of Starbucks in the fourth quarter valued at $1,240,652,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks in the 1st quarter worth about $415,167,000. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% during 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 buying an additional 2,897,282 shares in the last quarter. Capital World Investors bought a new position in shares of Starbucks in the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp grew its position in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last quarter. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBUX shares. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Jefferies Financial Group cut their price objective on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Stock Performance

NASDAQ:SBUX opened at $93.34 on Wednesday. The firm has a 50-day simple moving average of $83.04 and a 200-day simple moving average of $83.76. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $105.73 billion, a P/E ratio of 25.71, a P/E/G ratio of 2.18 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 analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

About Starbucks

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.