Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,218 shares of the coffee company’s stock after acquiring an additional 467 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Starbucks were worth $406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in Starbucks during the 4th quarter worth $26,000. Vima LLC acquired a new stake in Starbucks during the 4th quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks during the 4th quarter worth $27,000. Fairman Group LLC acquired a new stake in Starbucks during the 4th quarter worth $30,000. Finally, Raleigh Capital Management Inc. raised its stake in Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 198 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.7 %

SBUX stock opened at $98.57 on Friday. The company has a market cap of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company’s 50-day moving average price is $84.39 and its 200 day moving average price is $83.99.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on SBUX. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Thursday. Barclays lifted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $99.83.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

About Starbucks

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.