Mitchell & Pahl Private Wealth LLC Purchases 1,742 Shares of Starbucks Co. (NASDAQ:SBUX)

Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,450 shares of the coffee company’s stock after acquiring an additional 1,742 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Starbucks were worth $1,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board acquired a new stake in Starbucks in the 1st quarter valued at $415,167,000. Marshall Wace LLP increased its position in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks in the second quarter valued at about $243,910,000. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors acquired a new position in Starbucks during the first quarter valued at approximately $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.51 during midday trading on Thursday, reaching $95.97. The company’s stock had a trading volume of 1,794,534 shares, compared to its average volume of 11,410,655. The company has a market cap of $108.71 billion, a P/E ratio of 26.26, a P/E/G ratio of 2.06 and a beta of 0.97. The business’s 50 day moving average price is $94.08 and its two-hundred day moving average price is $84.62. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBUX. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.44.

About Starbucks

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.