Blue Trust Inc. Purchases 3,494 Shares of Starbucks Co. (NASDAQ:SBUX)

Blue Trust Inc. increased its position in Starbucks Co. (NASDAQ:SBUX) by 34.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,634 shares of the coffee company’s stock after purchasing an additional 3,494 shares during the quarter. Blue Trust Inc.’s holdings in Starbucks were worth $1,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the last quarter. Legal & General Group Plc grew its holdings in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares during the period. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Nordea Investment Management AB lifted its stake in shares of Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks in the 1st quarter worth $415,167,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $96.84 on Friday. The firm has a 50-day moving average of $94.90 and a 200-day moving average of $84.70. The company has a market cap of $109.69 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on SBUX shares. Barclays increased their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Insider Buying and Selling

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

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.