17,769 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,769 shares of the coffee company’s stock, valued at approximately $1,383,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cox Capital Mgt LLC grew its stake in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Starbucks during the 4th quarter worth about $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Starbucks during the 4th quarter worth about $31,246,000. Fidelis Capital Partners LLC boosted its position in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares in the last quarter. Finally, TKG Advisors LLC boosted its position in shares of Starbucks by 4.6% during the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock worth $1,873,000 after acquiring an additional 860 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.52.

Starbucks Trading Down 0.1 %

Shares of SBUX stock opened at $97.36 on Monday. The company has a market cap of $110.28 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The stock has a 50 day simple moving average of $88.74 and a 200-day simple moving average of $84.15. Starbucks Co. has a 12-month low of $71.55 and a 12-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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. On average, equities analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the 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 of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.