MGO One Seven LLC increases stake in Starbucks Co. (NASDAQ:SBUX)

MGO One Seven LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,465 shares of the coffee company’s stock after purchasing an additional 1,510 shares during the quarter. MGO One Seven LLC’s holdings in Starbucks were worth $2,216,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after buying an additional 470,498 shares in the last quarter. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC boosted its holdings in Starbucks by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after buying an additional 260,489 shares during the last quarter. Flossbach Von Storch AG lifted its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Starbucks by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after purchasing an additional 166,010 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s shares.

Analysts set new price targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th . Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.83, based on data from MarketBeat.

View the latest stock report at Starbucks

Starbucks stock performance

Shares of Starbucks stock opened at $98.20 on Thursday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a 50-day moving average price of $83.48 and a 200-day moving average price of $83.86. The company has a market cap of $111.28 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down 0.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. Sell-side analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Insiders place their bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 legal filing with the SEC, which can be accessed through the SEC’s website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock worth $865,514 over the last three months. 1.98% of shares are held by insiders.

Starbucks profile

(Free Report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, distributor and distributor of coffee worldwide. The company operates through three segments: North America, International and Channel Development. Its stores offer coffee and tea beverages, whole roasted beans and ground coffee, unique products and ready-to-drink beverages; and various food products such as pastries, breakfast sandwiches and lunch items.

See Also

Want to see what other hedge funds own SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Starbucks Co. (NASDAQ:SBUX – Free Report).

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