1,039 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by EP Wealth Advisors LLC

Posted by Defense World Staff on Sep 19th, 2023

EP Wealth Advisors LLC bought a new position in Starbucks Co. (NASDAQ:SBUX – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,039 shares of the coffee company’s stock, valued at approximately $271,000.

Other hedge funds have also recently modified their holdings of the company. Resources Investment Advisors LLC. grew its position in shares of Starbucks by 18.8% during the first quarter. Resources Investment Advisors LLC. now owns 16,102 shares of the coffee company’s stock worth $1,677,000 after purchasing an additional 2,548 shares in the last quarter. BMS Financial Advisors LLC lifted its holdings in shares of Starbucks by 4.8% in the first quarter. BMS Financial Advisors LLC now owns 5,108 shares of the coffee company’s stock worth $532,000 after buying an additional 234 shares in the last quarter. Aveo Capital Partners LLC boosted its position in shares of Starbucks by 23.6% during the first quarter. Aveo Capital Partners LLC now owns 3,618 shares of the coffee company’s stock worth $377,000 after acquiring an additional 691 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Starbucks by 67.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 402,002 shares of the coffee company’s stock valued at $41,860,000 after acquiring an additional 161,295 shares in the last quarter. Finally, TFB Advisors LLC increased its holdings in Starbucks by 8.5% in the 1st quarter. TFB Advisors LLC now owns 2,386 shares of the coffee company’s stock valued at $248,000 after acquiring an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, August 2nd. Stifel Nicolaus decreased their price objective on Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $104.00 target price on shares of Starbucks in a report on Wednesday, August 2nd. Barclays decreased their price target on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 2nd. Finally, StockNews.com began coverage on shares of Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $115.24.

Check Out Our Latest Stock Report on SBUX

Starbucks Trading Up 0.6 %

Shares of Starbucks stock opened at $96.76 on Tuesday. Starbucks Co. has a 12 month low of $82.43 and a 12 month high of $115.48. The stock’s fifty day moving average price is $99.19 and its 200-day moving average price is $101.43. The firm has a market cap of $110.83 billion, a P/E ratio of 29.50, a P/E/G ratio of 1.71 and a beta of 0.93.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 3.45 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the transaction, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.

About Starbucks

(Free Report)

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.