Curbstone Financial Management Corp Acquires 230 Shares of Starbucks Co. (NASDAQ:SBUX)

Curbstone Financial Management Corp lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,510 shares of the coffee company’s stock after purchasing an additional 230 shares during the quarter. Curbstone Financial Management Corp’s holdings in Starbucks were worth $1,220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Versant Capital Management Inc boosted its holdings in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after acquiring an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its position in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares during the last quarter. M&R Capital Management Inc. grew its position in Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Fragasso Financial Advisors Inc increased its stake in Starbucks by 1.1% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock valued at $999,000 after purchasing an additional 135 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. raised its holdings in Starbucks by 1.8% in the second quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock worth $583,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Down 1.0 %

Shares of NASDAQ:SBUX opened at $95.56 on Friday. The stock has a 50 day moving average of $90.46 and a 200 day moving average of $84.40. The company has a market cap of $108.24 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted 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 business had revenue of $9.11 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SBUX shares. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Morgan Stanley reissued an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Barclays increased their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Finally, The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $101.12.

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.