Invst LLC Has $2.03 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Invst LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,767 shares of the coffee company’s stock after buying an additional 395 shares during the quarter. Invst LLC’s holdings in Starbucks were worth $2,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Wellington Management Group LLP increased its stake in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after purchasing an additional 7,598,146 shares during the last quarter. FMR LLC grew its holdings in Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Marshall Wace LLP increased its position in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Starbucks during the second quarter worth approximately $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $98.16 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The stock has a 50 day simple moving average of $98.12 and a two-hundred day simple moving average of $89.05. The company has a market cap of $111.29 billion, a P/E ratio of 29.66, a PEG ratio of 2.94 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the business posted $1.06 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.11 earnings per share for the current year.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company increased their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.77.

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.