SkyOak Wealth LLC Acquires Shares of 5,184 Starbucks Co. (NASDAQ:SBUX)

SkyOak Wealth LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,184 shares of the coffee company’s stock, valued at approximately $404,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Cox Capital Mgt LLC grew its holdings in Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks in the 4th quarter valued at $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Starbucks during the 4th quarter worth $31,246,000. Fidelis Capital Partners LLC lifted its holdings in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at about $4,048,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SBUX shares. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Morgan Stanley restated an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Citigroup lifted their price target on Starbucks from $82.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Stock Performance

SBUX opened at $96.44 on Wednesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market cap of $109.29 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. The business’s fifty day moving average is $85.30 and its 200-day moving average is $83.89.

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

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.