Cardinal Capital Management Acquires 1,672 Shares of Starbucks Co. (NASDAQ:SBUX)

Cardinal Capital Management lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 2.1% during the third quarter, HoldingsChannel.com reports. The firm owned 82,144 shares of the coffee company’s stock after purchasing an additional 1,672 shares during the quarter. Starbucks makes up about 1.2% of Cardinal Capital Management’s portfolio, making the stock its 27th largest holding. Cardinal Capital Management’s holdings in Starbucks were worth $8,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $95.27 on Friday. The stock has a 50 day moving average price of $94.47 and a 200-day moving average price of $84.69. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market capitalization of $107.96 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the business earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBUX. Bank of America lifted their target price on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Citigroup increased their target price on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

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.