Northside Capital Management LLC Acquires Shares of 3,481 Starbucks Co. (NASDAQ:SBUX)

Northside Capital Management LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,481 shares of the coffee company’s stock, valued at approximately $308,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Enterprise Trust & Investment Co bought a new position in Starbucks during the second quarter valued at $25,000. Northern Oak Wealth Management Inc. grew its holdings in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 177 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in shares of Starbucks in the second quarter worth $32,000. Atlas Capital Advisors LLC boosted its holdings in shares of Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after acquiring an additional 145 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in shares of Starbucks in the second quarter worth $42,000. 70.73% of the stock is owned by institutional investors and hedge funds.

In other Starbucks news, EVP Vivek C. Varma sold 21,128 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $95.86, for a total transaction of $2,025,330.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.80, for a total value of $191,600.00. Following the sale, the chief accounting officer now owns 39,999 shares in the company, valued at approximately $3,831,904.20. The disclosure for this sale can be found here. Insiders sold 142,767 shares of company stock worth $13,730,357 in the last quarter. 3.98% of the stock is currently owned by company insiders.

Shares of SBUX stock traded up $0.67 on Friday, reaching $86.63. The company’s stock had a trading volume of 3,348,802 shares, compared to its average volume of 6,473,095. Starbucks Co. has a 12-month low of $54.71 and a 12-month high of $99.72. The company has a market capitalization of $101.64 billion, a P/E ratio of 35.80, a PEG ratio of 2.07 and a beta of 0.53. The stock’s 50 day simple moving average is $91.55 and its 200-day simple moving average is $85.17.

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 the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.

SBUX has been the subject of a number of analyst reports. Cleveland Research reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, September 10th. OTR Global raised Starbucks to a “positive” rating in a report on Tuesday, July 16th. Jefferies Financial Group raised their price target on Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Finally, Credit Suisse Group initiated coverage on Starbucks in a report on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the stock. Starbucks currently has an average rating of “Hold” and a consensus target price of $90.10.

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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