Founders Financial Securities LLC Invests $732,000 in Starbucks Co. (SBUX) Stock
Founders Financial Securities LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 12,879 shares of the coffee company’s stock, valued at approximately $732,000.
A number of other institutional investors also recently bought and sold shares of SBUX. Archford Capital Strategies LLC raised its stake in shares of Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after buying an additional 1,902 shares in the last quarter. Fort L.P. purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $112,000. Trilogy Capital Inc. purchased a new position in shares of Starbucks during the 1st quarter worth approximately $135,000. Point72 Hong Kong Ltd purchased a new position in Starbucks in the 2nd quarter valued at approximately $115,000. Finally, RPg Family Wealth Advisory LLC increased its stake in Starbucks by 155.6% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after purchasing an additional 1,673 shares in the last quarter. 71.90% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on the company. BMO Capital Markets set a $51.00 price objective on Starbucks and gave the company a “hold” rating in a research note on Monday, July 23rd. Barclays dropped their price objective on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a research note on Wednesday, July 18th. Telsey Advisory Group dropped their price objective on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, July 17th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded Starbucks from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $60.48.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. Starbucks’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 2.4 earnings per share for the current year.
In other Starbucks news, Director Myron E. Ullman III sold 15,000 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the director now owns 29,000 shares in the company, valued at approximately $1,511,770. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the sale, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The disclosure for this sale can be found here. In the last quarter, insiders have sold 295,832 shares of company stock worth $15,834,037. 3.48% of the stock is owned by insiders.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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