Good Life Advisors LLC Has $1.08 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Good Life Advisors LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 25.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,051 shares of the coffee company’s stock after purchasing an additional 2,241 shares during the quarter. Good Life Advisors LLC’s holdings in Starbucks were worth $1,077,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. acquired a new stake in shares of Starbucks during the 3rd quarter valued at $202,000. One Wealth Advisors LLC purchased a new stake in shares of Starbucks during the third quarter worth $206,000. Naviter Wealth LLC boosted its position in Starbucks by 15.3% during the third quarter. Naviter Wealth LLC now owns 21,487 shares of the coffee company’s stock valued at $2,095,000 after purchasing an additional 2,858 shares during the last quarter. Hengehold Capital Management LLC grew its stake in Starbucks by 4.3% in the third quarter. Hengehold Capital Management LLC now owns 5,167 shares of the coffee company’s stock valued at $504,000 after purchasing an additional 213 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in Starbucks in the 3rd quarter worth about $210,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $95.27 on Friday. The company has a 50-day simple moving average of $94.47 and a 200-day simple moving average of $84.69. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market capitalization of $107.96 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.08 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SBUX shares. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets raised their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.