Noked Capital LTD Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Noked Capital LTD acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the coffee company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Abbrea Capital LLC lifted its position in Starbucks by 1.9% during the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock worth $463,000 after buying an additional 105 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Starbucks by 0.3% in the second quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock worth $3,219,000 after purchasing an additional 115 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position in Starbucks by 0.4% in the second quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after purchasing an additional 120 shares during the last quarter. D.B. Root & Company LLC boosted its position in Starbucks by 0.8% in the second quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after purchasing an additional 122 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in Starbucks by 3.0% in the second quarter. Grove Bank & Trust now owns 4,373 shares of the coffee company’s stock worth $367,000 after purchasing an additional 128 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

SBUX has been the topic of several research analyst reports. Oppenheimer boosted their price objective on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. BTIG Research reaffirmed a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. Jefferies Financial Group upped their price target on Starbucks from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Cowen set a $93.00 price target on Starbucks and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Stephens upped their price target on Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have issued a buy rating to the company. Starbucks presently has a consensus rating of “Hold” and an average target price of $89.53.



SBUX traded up $0.20 during trading on Wednesday, reaching $90.12. 860,227 shares of the company were exchanged, compared to its average volume of 6,469,858. The company’s 50-day moving average is $94.43 and its two-hundred day moving average is $83.87. The company has a market cap of $107.81 billion, a price-to-earnings ratio of 37.24, a P/E/G ratio of 2.41 and a beta of 0.56. Starbucks Co. has a 12-month low of $54.71 and a 12-month high of $99.72.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Equities analysts predict that Starbucks Co. will post 2.83 earnings per share for the current year.

In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the transaction, the director now directly owns 28,390 shares in the company, valued at approximately $2,402,929.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin R. Johnson sold 23,390 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold a total of 142,767 shares of company stock worth $13,690,565 over the last 90 days. Corporate insiders own 3.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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