Starbucks Co. (NASDAQ:SBUX) is Palouse Capital Management Inc.'s 4th Largest Position

Palouse Capital Management Inc. raised its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 119.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,495 shares of the coffee company's stock after buying an additional 26,360 shares during the period. Starbucks comprises about 3.0% of Palouse Capital Management Inc.'s portfolio, making the stock its 4th largest holding. Palouse Capital Management Inc.'s holdings in Starbucks were worth $4,728,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP boosted its holdings in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $243,910,000. Flossbach Von Storch AG boosted its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company's stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Starbucks during the 1st quarter worth approximately $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 62,502 shares of the company's stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company's stock.

Starbucks Trading Down 0.4 %

Shares of SBUX stock traded down $0.39 on Monday, reaching $96.45. 3,988,801 shares of the stock were exchanged, compared to its average volume of 11,368,292. The business's 50 day moving average price is $94.90 and its 200 day moving average price is $84.67. The company has a market capitalization of $109.25 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 2.08 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts' consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company's revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBUX. Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. DZ Bank lowered shares of Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. Evercore ISI raised shares of Starbucks from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Starbucks presently has a consensus rating of "Moderate Buy" and an average price target of $102.44.

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.