Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Palouse Capital Management Inc.

Palouse Capital Management Inc. increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 119.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,495 shares of the coffee company’s stock after acquiring an additional 26,360 shares during the period. Starbucks makes up approximately 3.0% of Palouse Capital Management Inc.’s portfolio, making the stock its 4th biggest holding. Palouse Capital Management Inc.’s holdings in Starbucks were worth $4,728,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC grew its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the second quarter worth $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.57 during trading on Monday, hitting $96.27. The company had a trading volume of 1,938,271 shares, compared to its average volume of 11,359,938. The company has a market cap of $109.05 billion, a P/E ratio of 26.58, a PEG ratio of 2.08 and a beta of 0.97. The business’s 50-day moving average is $94.90 and its 200 day moving average is $84.67. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.44.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $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 available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.