Madison Wealth Management Has $3.56 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Madison Wealth Management grew its stake in Starbucks Co. (NASDAQ:SBUX) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,827 shares of the coffee company’s stock after buying an additional 1,101 shares during the period. Madison Wealth Management’s holdings in Starbucks were worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. Breiter Capital Management Inc. raised its stake in shares of Starbucks by 13.5% in the 2nd quarter. Breiter Capital Management Inc. now owns 18,805 shares of the coffee company’s stock valued at $2,103,000 after buying an additional 2,238 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Starbucks in the 1st quarter valued at $9,365,000. Aptus Capital Advisors LLC grew its position in Starbucks by 12.1% in the second quarter. Aptus Capital Advisors LLC now owns 37,674 shares of the coffee company’s stock valued at $4,212,000 after acquiring an additional 4,053 shares during the period. Trexquant Investment LP bought a new stake in shares of Starbucks in the 1st quarter worth about $4,283,000. Finally, Meridian Wealth Management LLC grew its stake in Starbucks by 21.5% during the second quarter. Meridian Wealth Management LLC now owns 13,925 shares of the coffee company’s stock worth $1,557,000 after buying an additional 2,463 shares during the last quarter. Institutional investors own 68.27% of the company’s stock.

NASDAQ SBUX traded down $2.01 during trading hours on Tuesday, hitting $111.67. 114,721 shares of the company traded hands, compared to its average volume of 5,880,485. Starbucks Co. has a twelve month low of $84.63 and a twelve month high of $126.32. The stock has a market capitalization of $131.67 billion, a price-to-earnings ratio of 47.57, a P/E/G ratio of 3.06 and a beta of 0.88. The business’s 50-day moving average is $117.42 and its 200-day moving average is $114.46.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.23. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period in the prior year, the firm posted ($0.46) earnings per share. The company’s quarterly revenue was up 77.6% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.25 EPS for the current fiscal year.

In related news, COO John Culver sold 148,619 shares of Starbucks stock in a transaction that occurred on Friday, August 6th. The stock was sold at an average price of $119.00, for a total transaction of $17,685,661.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin R. Johnson sold 359,177 shares of the business’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

A number of brokerages have recently weighed in on SBUX. Cowen raised their target price on Starbucks from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Wells Fargo & Company assumed coverage on Starbucks in a report on Sunday, June 20th. They issued a “buy” rating on the stock. Guggenheim assumed coverage on shares of Starbucks in a report on Monday, July 26th. They issued a “neutral” rating and a $125.00 price objective on the stock. Royal Bank of Canada lifted their target price on shares of Starbucks from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, BMO Capital Markets increased their price target on Starbucks from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $126.37.

Starbucks Company Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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