Stonegate Investment Group LLC Has $6.96 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Stonegate Investment Group LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 71,413 shares of the coffee company’s stock after purchasing an additional 1,911 shares during the quarter. Stonegate Investment Group LLC’s holdings in Starbucks were worth $6,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kapitalo Investimentos Ltda boosted its position in Starbucks by 51.1% during the 4th quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock worth $59,000 after acquiring an additional 208 shares during the last quarter. Triangle Securities Wealth Management boosted its position in Starbucks by 16.7% during the 1st quarter. Triangle Securities Wealth Management now owns 5,223 shares of the coffee company’s stock worth $477,000 after acquiring an additional 749 shares during the last quarter. Dakota Community Bank & Trust NA boosted its position in Starbucks by 13.4% during the 1st quarter. Dakota Community Bank & Trust NA now owns 3,247 shares of the coffee company’s stock worth $297,000 after acquiring an additional 383 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. boosted its position in Starbucks by 41.3% during the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 73,251 shares of the coffee company’s stock worth $6,694,000 after acquiring an additional 21,420 shares during the last quarter. Finally, RFG Advisory LLC boosted its position in Starbucks by 5.2% during the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after acquiring an additional 513 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, DZ Bank downgraded 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. Two analysts have rated the stock with a sell rating, ten have issued 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 currently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Starbucks Trading Up 0.3 %

SBUX stock traded up $0.24 during trading hours on Friday, hitting $95.51. 945,357 shares of the stock were exchanged, compared to its average volume of 11,378,902. The firm has a market capitalization of $108.18 billion, a P/E ratio of 26.25, a P/E/G ratio of 2.08 and a beta of 0.97. The company has a 50-day simple moving average of $94.47 and a two-hundred day simple moving average of $84.69. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

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

Insider Buying and Selling

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

Starbucks 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.