JGP Wealth Management LLC Acquires 187 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

JGP Wealth Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,684 shares of the coffee company’s stock after acquiring an additional 187 shares during the period. JGP Wealth Management LLC’s holdings in Starbucks were worth $1,042,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SBUX. Bragg Financial Advisors Inc raised its stake in shares of Starbucks by 2.1% in the fourth quarter. Bragg Financial Advisors Inc now owns 69,226 shares of the coffee company’s stock worth $6,646,000 after purchasing an additional 1,409 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Starbucks by 5.2% during the 4th quarter. Baird Financial Group Inc. now owns 1,568,768 shares of the coffee company’s stock valued at $150,617,000 after buying an additional 78,112 shares in the last quarter. Georgetown University boosted its holdings in Starbucks by 0.5% in the 4th quarter. Georgetown University now owns 50,511 shares of the coffee company’s stock worth $4,850,000 after buying an additional 276 shares during the period. Financial Network Wealth Advisors LLC purchased a new stake in Starbucks in the 4th quarter worth $412,000. Finally, Palogic Value Management L.P. lifted its position in shares of Starbucks by 13.0% in the fourth quarter. Palogic Value Management L.P. now owns 6,760 shares of the coffee company’s stock valued at $649,000 after acquiring an additional 779 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBUX shares. Citigroup increased their target price on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Bank of America raised their target price on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Get Our Latest Research Report on SBUX

Starbucks Trading Up 1.8 %

Shares of NASDAQ SBUX traded up $1.69 during midday trading on Friday, reaching $95.57. The company had a trading volume of 1,393,338 shares, compared to its average volume of 11,526,134. The stock has a market cap of $108.30 billion, a P/E ratio of 26.72, a P/E/G ratio of 2.11 and a beta of 0.97. The business’s 50-day simple moving average is $92.47 and its 200 day simple moving average is $84.55. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) 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 negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the business earned $1.00 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).