Waycross Partners LLC Has $13.75 Million Position in Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 176,614 shares of the coffee company’s stock after purchasing an additional 18,264 shares during the period. Starbucks accounts for about 2.1% of Waycross Partners LLC’s portfolio, making the stock its 19th largest position. Waycross Partners LLC’s holdings in Starbucks were worth $13,749,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SBUX. Norges Bank bought a new stake in shares of Starbucks during the fourth quarter worth approximately $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new stake in Starbucks during the 1st quarter worth $415,167,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks during the 2nd quarter valued at $243,910,000. Flossbach Von Storch AG lifted its stake in shares of Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors bought a new position in shares of Starbucks in the 1st quarter worth $257,721,000. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.57 on Monday. The business has a fifty day simple moving average of $84.39 and a two-hundred day simple moving average of $83.86. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market capitalization of $111.70 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on SBUX. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Bank of America upped their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. DZ Bank cut shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.83.

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.