Raymond James & Associates Acquires 54,831 Shares of Starbucks Co. (NASDAQ:SBUX)

Raymond James & Associates grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,665,571 shares of the coffee company’s stock after acquiring an additional 54,831 shares during the quarter. Raymond James & Associates owned 0.15% of Starbucks worth $162,376,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Fidelis Capital Partners LLC lifted its position in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp increased its stake in shares of Starbucks by 2.8% in the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after buying an additional 10,092 shares during the period. LRI Investments LLC acquired a new stake in Starbucks during the 1st quarter valued at approximately $136,000. BNP Paribas acquired a new stake in Starbucks during the 1st quarter valued at approximately $9,332,000. Finally, Great Valley Advisor Group Inc. increased its position in Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 5,377 shares during the period. Institutional investors own 72.29% of the company’s stock.

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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SBUX shares. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Wednesday, August 14th. BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Starbucks Price Performance

NASDAQ:SBUX opened at $96.84 on Friday. The business has a 50 day moving average of $94.90 and a 200 day moving average of $84.70. The company has a market capitalization of $109.69 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The business 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%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.00 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Company 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.