Axiom Advisory LLC Grows Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Axiom Advisory LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,573 shares of the coffee company’s stock after buying an additional 150 shares during the period. Axiom Advisory LLC’s holdings in Starbucks were worth $738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Starbucks by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after purchasing an additional 260,489 shares in the last quarter. Legal & General Group Plc grew its position in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Flossbach Von Storch AG increased its stake in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several analyst reports. Barclays raised their price target on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a report on Wednesday, July 31st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Evercore ISI raised shares of 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 research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Stock Up 0.1 %

Starbucks stock 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 firm’s fifty day moving average is $91.33 and its 200 day moving average is $84.36. The company has a market cap of $108.98 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.12 and a beta of 0.97.

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

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’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 transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction 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 of the company’s stock, valued at approximately $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. Company insiders own 1.98% of the company’s stock.

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.