Liberty Wealth Management LLC Buys 3,042 Shares of Starbucks Co. (NASDAQ:SBUX)

Liberty Wealth Management LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 68.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,510 shares of the coffee company’s stock after acquiring an additional 3,042 shares during the quarter. Liberty Wealth Management LLC’s holdings in Starbucks were worth $585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 purchasing an additional 470,498 shares in the last quarter. Norges Bank purchased a new stake in Starbucks in the 4th quarter worth $1,240,652,000. Fisher Asset Management LLC raised its holdings in Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after acquiring an additional 260,489 shares during the period. Flossbach Von Storch AG lifted its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after acquiring an additional 166,010 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. TD Cowen boosted their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, Citigroup increased their price objective on shares of Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Trading Up 1.2 %

SBUX stock opened at $92.21 on Tuesday. The stock has a market cap of $104.45 billion, a PE ratio of 25.40, a P/E/G ratio of 2.18 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a 50-day moving average price of $82.71 and a 200 day moving average price of $83.77.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. Sell-side analysts forecast that Starbucks Co. will post 3.56 EPS for the current year.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the 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 in the company, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 in the last quarter. 1.98% of the stock is owned by company insiders.

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.