Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 31.3% during the second quarter, HoldingsChannel reports. The fund owned 21,617 shares of the coffee company’s stock after acquiring an additional 5,149 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Starbucks were worth $1,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after acquiring an additional 470,498 shares during the period. Fisher Asset Management LLC increased its stake in shares of Starbucks by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after acquiring an additional 260,489 shares during the period. Flossbach Von Storch AG grew its position 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 buying an additional 2,897,282 shares during the period. Franklin Resources Inc. grew its position in Starbucks by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after buying an additional 166,010 shares during the period. Finally, Nordea Investment Management AB grew its position in Starbucks by 5.2% during the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SBUX shares. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. Jefferies Financial Group lowered their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Stock Performance

Shares of SBUX opened at $96.31 on Tuesday. The company has a market capitalization of $109.14 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 2.38 and a beta of 0.96. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company’s 50 day simple moving average is $84.82 and its 200 day simple moving average is $83.87.

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

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.