CCLA Investment Management Purchases 14,858 Shares of Starbucks Co. (NASDAQ:SBUX)

CCLA Investment Management boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,461,616 shares of the coffee company’s stock after acquiring an additional 14,858 shares during the period. Starbucks accounts for about 1.8% of CCLA Investment Management’s investment portfolio, making the stock its 25th largest position. CCLA Investment Management owned about 0.13% of Starbucks worth $115,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the period. Fisher Asset Management LLC grew its holdings in Starbucks by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after buying an additional 260,489 shares in the last quarter. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after buying an additional 166,010 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after acquiring an additional 266,570 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.1 %

Shares of SBUX opened at $96.44 on Wednesday. The firm has a fifty day moving average price of $85.30 and a 200-day moving average price of $83.89. The firm has a market capitalization of $109.29 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. Analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut their price target on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Citigroup upped their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated 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 transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

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.