LPL Financial LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

LPL Financial LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,863,431 shares of the coffee company’s stock after purchasing an additional 323,114 shares during the quarter. LPL Financial LLC owned approximately 0.16% of Starbucks worth $145,068,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC grew its stake in Starbucks by 498.2% in the 2nd 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 period. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

NASDAQ:SBUX opened at $98.20 on Thursday. The firm has a market capitalization of $111.28 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.18 and a beta of 0.96. The stock has a fifty day moving average of $83.48 and a 200 day moving average of $83.86. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Equities analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock valued at $865,514 in the last quarter. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group decreased their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.83.

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.