Evanson Asset Management LLC Raises Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Evanson Asset Management LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,379 shares of the coffee company’s stock after acquiring an additional 301 shares during the period. Evanson Asset Management LLC’s holdings in Starbucks were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Abbrea Capital LLC grew its position in Starbucks by 1.9% in the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock valued at $463,000 after acquiring an additional 105 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Starbucks by 0.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock valued at $3,219,000 after acquiring an additional 115 shares during the last quarter. Duncker Streett & Co. Inc. grew its position in Starbucks by 0.4% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock valued at $2,528,000 after acquiring an additional 120 shares during the last quarter. D.B. Root & Company LLC grew its position in Starbucks by 0.8% in the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock valued at $1,251,000 after acquiring an additional 122 shares during the last quarter. Finally, Enterprise Bank & Trust Co grew its position in Starbucks by 4.8% in the 3rd quarter. Enterprise Bank & Trust Co now owns 2,725 shares of the coffee company’s stock valued at $241,000 after acquiring an additional 125 shares during the last quarter. 70.73% of the stock is currently owned by institutional investors and hedge funds.

SBUX stock traded up $0.58 during trading on Friday, reaching $86.54. 3,318,507 shares of the company traded hands, compared to its average volume of 6,473,095. Starbucks Co. has a 12 month low of $54.71 and a 12 month high of $99.72. The business has a 50 day simple moving average of $91.55 and a 200 day simple moving average of $85.17. The company has a market capitalization of $101.64 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 2.07 and a beta of 0.53.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.

In other Starbucks news, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vivek C. Varma sold 21,128 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $95.86, for a total value of $2,025,330.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,767 shares of company stock valued at $13,730,357. 3.98% of the stock is currently owned by company insiders.

Several equities analysts have commented on SBUX shares. Wedbush upped their price objective on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. KeyCorp upped their price objective on Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays upped their price objective on Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Cleveland Research reaffirmed a “hold” rating on shares of Starbucks in a research report on Tuesday, September 10th. Finally, Citigroup assumed coverage on Starbucks in a research report on Wednesday, June 26th. They set a “buy” rating and a $83.65 price target on the stock. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the stock. Starbucks presently has an average rating of “Hold” and an average target price of $90.10.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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