M3 Advisory Group LLC Has $295,000 Position in Starbucks Co. (NASDAQ:SBUX)

M3 Advisory Group LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 17.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,022 shares of the coffee company’s stock after selling 654 shares during the period. M3 Advisory Group LLC’s holdings in Starbucks were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks in the 1st quarter valued at $415,167,000. Marshall Wace LLP grew its holdings in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks in the second quarter valued at approximately $243,910,000. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Starbucks in the first quarter valued at approximately $257,721,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.3 %

Starbucks stock traded up $0.24 during trading hours on Friday, hitting $95.51. The stock had a trading volume of 945,357 shares, compared to its average volume of 11,378,902. The stock has a market capitalization of $108.18 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock’s 50-day moving average price is $94.47 and its 200-day moving average price is $84.69.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased 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 of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays increased their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

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.