Mill Creek Capital Advisors LLC Increases Position in Starbucks Co. (NASDAQ:SBUX)

Mill Creek Capital Advisors LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,765 shares of the coffee company’s stock after purchasing an additional 349 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Starbucks were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vima LLC bought a new position in Starbucks in the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC raised its position 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 in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on 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 purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.1 %

SBUX stock opened at $94.45 on Wednesday. The firm has a 50 day simple moving average of $87.50 and a 200-day simple moving average of $84.04. The company has a market capitalization of $107.03 billion, a P/E ratio of 26.02, a PEG ratio of 2.29 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. lowered their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. BMO Capital Markets increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Barclays lifted their price target on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.92.

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.