Stegent Equity Advisors Inc. Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Stegent Equity Advisors Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,844 shares of the coffee company’s stock after acquiring an additional 404 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Starbucks were worth $472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter worth about $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Starbucks in the second quarter worth about $31,000. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In related 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Starbucks stock traded up $1.57 during mid-day trading on Friday, reaching $96.84. 6,178,250 shares of the stock traded hands, compared to its average volume of 11,404,794. The stock has a market capitalization of $109.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The business’s 50-day moving average is $94.90 and its 200-day moving average is $84.70. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. Equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBUX. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Barclays upped their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

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.