Hayek Kallen Investment Management Buys 441 Shares of Starbucks Co. (NASDAQ:SBUX)

Hayek Kallen Investment Management increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,001 shares of the coffee company’s stock after acquiring an additional 441 shares during the period. Hayek Kallen Investment Management’s holdings in Starbucks were worth $1,267,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. New Millennium Group LLC bought a new stake in Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $27,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup increased their price target on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley reissued an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.16.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

SBUX traded up $1.04 on Tuesday, hitting $95.80. 1,537,957 shares of the stock were exchanged, compared to its average volume of 11,456,043. The firm has a market capitalization of $108.51 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.06 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 business has a 50-day moving average of $93.28 and a two-hundred day moving average of $84.52.

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

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.