Naviter Wealth LLC Has $2.10 Million Position in Starbucks Co. (NASDAQ:SBUX)

Naviter Wealth LLC grew its position in Starbucks Co. (NASDAQ:SBUX) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,487 shares of the coffee company’s stock after purchasing an additional 2,858 shares during the period. Naviter Wealth LLC’s holdings in Starbucks were worth $2,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the second quarter valued at approximately $25,000. Scarborough Advisors LLC acquired a new position in Starbucks in the 4th quarter worth $26,000. New Millennium Group LLC acquired a new position in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at about $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.1 %

Shares of SBUX stock traded down $0.14 during trading on Thursday, hitting $95.32. The company’s stock had a trading volume of 142,246 shares, compared to its average volume of 11,403,771. The business has a fifty day moving average of $94.08 and a 200-day moving average of $84.62. The company has a market cap of $107.97 billion, a PE ratio of 26.26, a P/E/G ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

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, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, research analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 owns 62,502 shares in the company, valued at $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 available through this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated 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 completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Barclays boosted their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.84.

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.