Schaper Benz & Wise Investment Counsel Inc. WI Acquires 2,261 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,670 shares of the coffee company’s stock after acquiring an additional 2,261 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Starbucks were worth $16,346,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. increased its holdings in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB boosted its position in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after buying an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in Starbucks during the 1st quarter worth approximately $415,167,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wedbush reaffirmed a “neutral” rating and set a $80.00 target price on shares of Starbucks in a report on Tuesday, August 13th. BTIG Research upped their price target on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Read Our Latest Research Report on Starbucks

Starbucks Trading Up 1.6 %

Shares of SBUX stock opened at $96.84 on Friday. The firm has a fifty day simple moving average of $94.90 and a two-hundred day simple moving average of $84.70. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $109.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

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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