Beacon Capital Management LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Beacon Capital Management LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 33.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,331 shares of the coffee company’s stock after acquiring an additional 336 shares during the period. Beacon Capital Management LLC’s holdings in Starbucks were worth $132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Starbucks during the fourth quarter valued at about $1,222,931,000. Moneta Group Investment Advisors LLC raised its stake in Starbucks by 115,334.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after purchasing an additional 8,486,281 shares in the last quarter. Morgan Stanley raised its position in shares of Starbucks by 46.3% during the 4th quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Starbucks in the first quarter worth about $190,270,000. Finally, Amundi increased its stake in Starbucks by 86.5% during the fourth quarter. Amundi now owns 4,130,788 shares of the coffee company’s stock worth $436,661,000 after acquiring an additional 1,915,771 shares during the last quarter. 70.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SBUX shares. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research note on Wednesday, August 2nd. Morgan Stanley restated an “equal weight” rating and issued a $104.00 price target on shares of Starbucks in a report on Wednesday, August 2nd. Barclays reduced their target price on Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. TD Cowen downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $117.00 to $107.00 in a research note on Tuesday. Finally, StockNews.com assumed coverage on shares of Starbucks in a research report on Thursday, August 17th. They set a “buy” rating for the company. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.76.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $100.60, for a total transaction of $68,307.40. Following the transaction, the chief financial officer now owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Starbucks stock traded down $1.96 during trading hours on Tuesday, hitting $94.80. 1,200,984 shares of the stock were exchanged, compared to its average volume of 6,203,236. Starbucks Co. has a 12 month low of $82.43 and a 12 month high of $115.48. The business’s 50-day moving average is $99.19 and its two-hundred day moving average is $101.43. The stock has a market capitalization of $108.58 billion, a P/E ratio of 29.50, a P/E/G ratio of 1.69 and a beta of 0.93.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. The company had revenue of $9.17 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a negative return on equity of 44.46% and a net margin of 10.81%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.