Claro Advisors LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Claro Advisors LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 35.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,955 shares of the coffee company’s stock after buying an additional 4,474 shares during the period. Claro Advisors LLC’s holdings in Starbucks were worth $1,653,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Kapitalo Investimentos Ltda lifted its stake in Starbucks by 51.1% in the fourth quarter. Kapitalo Investimentos Ltda now owns 615 shares of the coffee company’s stock worth $59,000 after purchasing an additional 208 shares during the last quarter. RFG Advisory LLC lifted its stake in shares of Starbucks by 5.2% in the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock valued at $946,000 after acquiring an additional 513 shares during the last quarter. Sanders Morris Harris LLC boosted its holdings in Starbucks by 7.3% during the 1st quarter. Sanders Morris Harris LLC now owns 5,363 shares of the coffee company’s stock valued at $490,000 after acquiring an additional 363 shares during the period. &PARTNERS grew its position in Starbucks by 31.1% during the 1st quarter. &PARTNERS now owns 14,012 shares of the coffee company’s stock worth $1,281,000 after acquiring an additional 3,325 shares during the last quarter. Finally, City State Bank increased its stake in Starbucks by 17.3% in the 1st quarter. City State Bank now owns 6,314 shares of the coffee company’s stock worth $577,000 after purchasing an additional 930 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBUX. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Bank of America upped their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Trading Up 1.6 %

NASDAQ SBUX opened at $96.84 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock’s fifty day moving average price is $94.90 and its 200-day moving average price is $84.73. The stock has a market cap of $109.69 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released 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 business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. As a group, analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing 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 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 owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction 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 completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $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 currently owned by insiders.

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.