Versant Capital Management Inc Acquires 504 Shares of Starbucks Co. (NASDAQ:SBUX)

Versant Capital Management Inc raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 34.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,979 shares of the coffee company’s stock after buying an additional 504 shares during the period. Versant Capital Management Inc’s holdings in Starbucks were worth $193,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. Vima LLC acquired a new stake in Starbucks during the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd quarter valued at $26,000. Finally, Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $96.21 on Wednesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The business’s 50 day moving average price is $91.33 and its two-hundred day moving average price is $84.36. The firm has a market cap of $108.98 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

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

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade 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 insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SBUX shares. JPMorgan Chase & Co. raised their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Bank of America lifted their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Finally, Citigroup lifted their target price on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Company 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.