River & Mercantile Asset Management LLP Takes Position in Starbucks Co. (NASDAQ:SBUX)

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River & Mercantile Asset Management LLP bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,624 shares of the coffee company’s stock, valued at approximately $1,813,000.

Several other hedge funds have also made changes to their positions in SBUX. Enterprise Trust & Investment Co purchased a new position in shares of Starbucks in the 2nd quarter worth about $25,000. Northern Oak Wealth Management Inc. raised its position in shares of Starbucks by 95.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after purchasing an additional 177 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of Starbucks in the 2nd quarter worth about $32,000. Atlas Capital Advisors LLC raised its position in shares of Starbucks by 53.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock worth $35,000 after purchasing an additional 145 shares during the last quarter. Finally, Virtus ETF Advisers LLC purchased a new position in shares of Starbucks in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Several equities analysts have recently issued reports on SBUX shares. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Tuesday, June 18th. Oppenheimer lifted their price target on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Evercore ISI started coverage on Starbucks in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price target for the company. BidaskClub lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Finally, Goldman Sachs Group started coverage on Starbucks in a research report on Monday, July 29th. They issued a “buy” rating and a $110.00 price target for the company. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $90.10.

In other Starbucks news, EVP Vivek C. Varma sold 21,128 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $95.86, for a total transaction of $2,025,330.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $96.42, for a total value of $961,596.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 142,767 shares of company stock valued at $13,730,357. Corporate insiders own 3.98% of the company’s stock.

NASDAQ:SBUX traded up $0.56 during mid-day trading on Wednesday, reaching $85.47. The company’s stock had a trading volume of 305,455 shares, compared to its average volume of 8,493,585. Starbucks Co. has a 12-month low of $54.71 and a 12-month high of $99.72. The firm’s fifty day moving average price is $91.98 and its two-hundred day moving average price is $85.03. The stock has a market cap of $101.64 billion, a P/E ratio of 35.32, a PEG ratio of 2.09 and a beta of 0.53.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.83 EPS for the current year.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; 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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