Ted Buchan & Co Purchases New Stake in Starbucks Co. (NASDAQ:SBUX)

Ted Buchan & Co purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,223 shares of the coffee company’s stock, valued at approximately $640,000.

Other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter valued at $26,000. Vima LLC acquired a new position in Starbucks during the fourth quarter valued at $26,000. Fairman Group LLC purchased a new position in Starbucks in the fourth quarter valued at about $30,000. Raleigh Capital Management Inc. grew its stake in Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 198 shares in the last quarter. Finally, New Millennium Group LLC purchased a new position in Starbucks in the second quarter valued at about $26,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other 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, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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 value 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 legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost 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 in the company, valued at approximately $3,316,143. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Bank of America boosted their target price on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Barclays boosted their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.12.

Starbucks Stock Up 0.1 %

Shares of NASDAQ:SBUX opened at $97.49 on Tuesday. The business has a 50 day moving average price of $89.16 and a 200 day moving average price of $84.19. The company has a market cap of $110.43 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.26 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 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. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.00 EPS. Analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks 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.