QV Investors Inc. Purchases 16,400 Shares of Starbucks Co. (NASDAQ:SBUX)

QV Investors Inc. raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189,020 shares of the coffee company’s stock after purchasing an additional 16,400 shares during the quarter. Starbucks accounts for about 1.6% of QV Investors Inc.’s investment portfolio, making the stock its 24th biggest holding. QV Investors Inc.’s holdings in Starbucks were worth $18,428,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the period. Legal & General Group Plc lifted its holdings in shares of Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Flossbach Von Storch AG boosted 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 worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after acquiring an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Starbucks during the first quarter valued at $415,167,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $95.04 on Wednesday. The business has a 50-day simple moving average of $93.67 and a 200-day simple moving average of $84.54. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market cap of $107.65 billion, a PE ratio of 26.18, a P/E/G ratio of 2.06 and a beta of 0.97.

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, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. Citigroup increased their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 in the company, valued at $7,057,327.62. 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 at this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired 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 directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.