Orca Investment Management LLC Has $716,000 Position in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Orca Investment Management LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,344 shares of the coffee company’s stock after purchasing an additional 451 shares during the quarter. Orca Investment Management LLC’s holdings in Starbucks were worth $716,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter valued at $25,000. Vima LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the second quarter valued at $26,000. Finally, Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other 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 value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, 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 cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 1.8 %

SBUX opened at $95.55 on Monday. The stock has a market cap of $108.23 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 2.06 and a beta of 0.97. The business has a 50 day moving average of $92.86 and a 200-day moving average of $84.49. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the company earned $1.00 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several research reports. Bank of America upped their price target on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

Read Our Latest Stock Analysis on SBUX

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.

See Also

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