Raymond James & Associates Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Raymond James & Associates boosted its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,665,571 shares of the coffee company's stock after purchasing an additional 54,831 shares during the period. Raymond James & Associates owned approximately 0.15% of Starbucks worth $162,376,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Fidelis Capital Partners LLC grew its position in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company's stock valued at $1,016,000 after buying an additional 1,751 shares during the period. AMI Asset Management Corp grew its position in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company's stock valued at $33,384,000 after acquiring an additional 10,092 shares during the period. LRI Investments LLC purchased a new stake in shares of Starbucks in the 1st quarter worth $136,000. BNP Paribas bought a new position in Starbucks in the 1st quarter worth $9,332,000. Finally, Great Valley Advisor Group Inc. lifted its position in Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company's stock valued at $1,333,000 after purchasing an additional 5,377 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SBUX shares. DZ Bank lowered shares of Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Stifel Nicolaus raised shares of Starbucks from a "hold" rating to a "buy" rating and upped their target price for the stock from $80.00 to $110.00 in a report on Wednesday, August 14th. BMO Capital Markets increased their price target on Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, September 9th. Baird R W upgraded Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 13th. Finally, Wedbush reiterated a "neutral" rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $102.44.

Starbucks Trading Up 1.6 %

Shares of NASDAQ SBUX traded up $1.57 during trading hours on Friday, hitting $96.84. 6,178,250 shares of the company traded hands, compared to its average volume of 11,404,794. The stock has a market capitalization of $109.69 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The company's 50 day moving average price is $94.90 and its 200 day moving average price is $84.67. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the company posted $1.00 EPS. Starbucks's quarterly revenue was down .6% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company's stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company's stock.

Starbucks Company 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.