Accent Capital Management LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Accent Capital Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,189 shares of the coffee company’s stock, valued at approximately $786,000. Starbucks makes up about 0.6% of Accent Capital Management LLC’s portfolio, making the stock its 29th biggest holding.

A number of other large investors also recently added to or reduced their stakes in SBUX. Norges Bank acquired a new stake in shares of Starbucks in the fourth quarter worth approximately $1,240,652,000. Flossbach Von Storch AG lifted its holdings in Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after purchasing an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia boosted its stake in Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after purchasing an additional 1,672,656 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after buying an additional 1,656,591 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 2.1 %

SBUX traded up $1.68 on Monday, reaching $81.33. The company had a trading volume of 9,843,611 shares, compared to its average volume of 10,278,079. The stock has a 50-day moving average price of $80.87 and a 200-day moving average price of $89.09. The stock has a market capitalization of $92.12 billion, a PE ratio of 22.41, a P/E/G ratio of 1.74 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. As a group, analysts expect that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 7,750 shares of company stock worth $642,050 in the last quarter. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SBUX. Wells Fargo & Company lowered their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price objective for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Citigroup reduced their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley reduced their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.00.

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.