Virtu Financial LLC Invests $3.43 Million in Starbucks Co. (NASDAQ:SBUX)

Virtu Financial LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 44,075 shares of the coffee company’s stock, valued at approximately $3,431,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vima LLC bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Finally, DSM Capital Partners LLC purchased a new position in shares of Starbucks in the fourth quarter valued at $27,000. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Jefferies Financial Group dropped their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $99.83.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction 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 approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Down 2.3 %

NASDAQ:SBUX opened at $96.31 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market cap of $109.14 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.38 and a beta of 0.96. The company’s 50 day moving average price is $84.82 and its 200-day moving average price is $83.87.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for 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%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share 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.