Sunbelt Securities Inc. Has $2.03 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Sunbelt Securities Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 105.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,054 shares of the coffee company’s stock after acquiring an additional 13,393 shares during the period. Sunbelt Securities Inc.’s holdings in Starbucks were worth $2,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBUX. Gryphon Financial Partners LLC increased its position in Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares during the period. Evoke Wealth LLC increased its holdings in shares of Starbucks by 1.6% during the 4th quarter. Evoke Wealth LLC now owns 10,201 shares of the coffee company’s stock worth $979,000 after purchasing an additional 164 shares during the period. Carolinas Wealth Consulting LLC raised its position in shares of Starbucks by 4.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after buying an additional 133 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Starbucks by 1.4% in the fourth quarter. Jones Financial Companies Lllp now owns 86,412 shares of the coffee company’s stock valued at $8,296,000 after buying an additional 1,167 shares during the period. Finally, CWA Asset Management Group LLC grew its position in Starbucks by 40.9% during the fourth quarter. CWA Asset Management Group LLC now owns 4,708 shares of the coffee company’s stock worth $452,000 after buying an additional 1,367 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.1 %

Shares of Starbucks stock opened at $97.36 on Monday. The business has a fifty day simple moving average of $88.74 and a 200 day simple moving average of $84.15. The stock has a market cap of $110.28 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its 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 company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company earned $1.00 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SBUX shares. Barclays lifted their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Two 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.52.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought 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 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 the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly 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 can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 owns 75,054 shares of the company’s stock, 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.

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.