Waycross Partners LLC Has $13.75 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,614 shares of the coffee company’s stock after buying an additional 18,264 shares during the quarter. Starbucks makes up 2.1% of Waycross Partners LLC’s holdings, making the stock its 19th biggest holding. Waycross Partners LLC’s holdings in Starbucks were worth $13,749,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Fairfield Financial Advisors LTD acquired a new position in Starbucks during the 2nd quarter worth approximately $41,000. Poehling Capital Management INC. lifted its stake in shares of Starbucks by 113.7% in the 2nd quarter. Poehling Capital Management INC. now owns 37,695 shares of the coffee company’s stock valued at $2,935,000 after acquiring an additional 20,058 shares during the last quarter. WINTON GROUP Ltd boosted its holdings in shares of Starbucks by 745.2% during the 2nd quarter. WINTON GROUP Ltd now owns 33,564 shares of the coffee company’s stock valued at $2,613,000 after acquiring an additional 29,593 shares in the last quarter. Retirement Planning Co of New England Inc. grew its position in Starbucks by 4.9% during the 2nd quarter. Retirement Planning Co of New England Inc. now owns 7,683 shares of the coffee company’s stock worth $598,000 after acquiring an additional 361 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in Starbucks in the 2nd quarter worth about $243,910,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Morgan Stanley reissued an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Starbucks Stock Performance

Shares of Starbucks stock opened at $98.57 on Monday. The stock has a market capitalization of $111.70 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.38 and a beta of 0.96. The stock’s 50-day simple moving average is $84.39 and its 200 day simple moving average is $83.86. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released 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 the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. Equities research analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.