M3 Advisory Group LLC Invests $439,000 in Starbucks Co. (NASDAQ:SBUX)

M3 Advisory Group LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,568 shares of the coffee company’s stock, valued at approximately $439,000.

A number of other hedge funds have also modified their holdings of SBUX. Norges Bank purchased a new position in shares of Starbucks during the fourth quarter worth approximately $1,240,652,000. Flossbach Von Storch AG grew its position in shares of Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Starbucks by 342.7% during the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after acquiring an additional 1,672,656 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after buying an additional 1,591,206 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock traded up $1.68 during trading on Monday, hitting $81.33. The stock had a trading volume of 9,843,611 shares, compared to its average volume of 10,278,079. The company’s 50 day moving average price is $80.87 and its two-hundred day moving average price is $89.09. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The stock has a market cap of $92.12 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,750 shares of company stock worth $642,050 in the last 90 days. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. lowered their price objective on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Wedbush lowered their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Starbucks in a research report on Thursday. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.00.

Get Our Latest Stock Report on Starbucks

About Starbucks

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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