Stonekeep Investments LLC Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Stonekeep Investments LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,648 shares of the coffee company’s stock, valued at approximately $258,000.

Several other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after purchasing an additional 122 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its position in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares during the last quarter. M&R Capital Management Inc. raised its position in shares of Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after acquiring an additional 134 shares during the last quarter. Fragasso Financial Advisors Inc raised its position in shares of Starbucks by 1.1% during the second quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after acquiring an additional 135 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. raised its position in shares of Starbucks by 1.8% during the second quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock worth $583,000 after acquiring an additional 135 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 1.8 %

Shares of SBUX traded up $1.67 during midday trading on Friday, reaching $95.55. The stock had a trading volume of 4,834,808 shares, compared to its average volume of 11,543,598. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market capitalization of $108.28 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97. The company’s 50-day moving average is $92.86 and its 200 day moving average is $84.54.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. Research analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Thursday, September 12th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America lifted their target price on Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wedbush reiterated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. Finally, Citigroup raised their price objective on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

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.