Worth Asset Management LLC Has $130,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Worth Asset Management LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,312 shares of the coffee company’s stock after acquiring an additional 105 shares during the period. Worth Asset Management LLC’s holdings in Starbucks were worth $130,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Norges Bank acquired a new stake in Starbucks during the fourth quarter worth about $1,222,931,000. Moneta Group Investment Advisors LLC grew its stake in Starbucks by 115,334.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley grew its stake in Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Starbucks during the first quarter worth about $190,270,000. Finally, Amundi grew its stake in Starbucks by 86.5% during the fourth quarter. Amundi now owns 4,130,788 shares of the coffee company’s stock worth $436,661,000 after buying an additional 1,915,771 shares in the last quarter. 70.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 679 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the completion of the sale, the chief financial officer now owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $96.76 on Tuesday. The company has a market capitalization of $110.83 billion, a PE ratio of 29.50, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a 50 day simple moving average of $99.19 and a two-hundred day simple moving average of $101.43. Starbucks Co. has a fifty-two week low of $82.43 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $9.29 billion. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts predict that Starbucks Co. will post 3.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBUX. TD Cowen reiterated an “outperform” rating and set a $117.00 price objective on shares of Starbucks in a research note on Wednesday, August 2nd. Stifel Nicolaus dropped their target price on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a report on Wednesday, August 2nd. Citigroup dropped their target price on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating and issued a $104.00 target price on shares of Starbucks in a report on Wednesday, August 2nd. Finally, Stephens reissued an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, August 2nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $115.24.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.