Allen Mooney & Barnes Investment Advisors LLC Has $2.05 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Allen Mooney & Barnes Investment Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,042 shares of the coffee company’s stock after selling 470 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Starbucks were worth $2,051,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Astoria Portfolio Advisors LLC. increased its holdings in shares of Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares in the last quarter. M&R Capital Management Inc. increased its stake in Starbucks by 30.9% during the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Fragasso Financial Advisors Inc increased its stake in Starbucks by 1.1% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 12,837 shares of the coffee company’s stock worth $999,000 after purchasing an additional 135 shares in the last quarter. Pinnacle West Asset Management Inc. raised its holdings in Starbucks by 1.8% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 7,495 shares of the coffee company’s stock worth $583,000 after buying an additional 135 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its stake in Starbucks by 1.4% in the first quarter. Joel Isaacson & Co. LLC now owns 9,708 shares of the coffee company’s stock valued at $887,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $101.16.

Starbucks Trading Down 0.8 %

Shares of NASDAQ SBUX opened at $94.76 on Tuesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a 50 day moving average of $93.28 and a 200-day moving average of $84.52. The company has a market capitalization of $107.33 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.06 and a beta of 0.97.

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

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’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 acquisition, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’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 directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Profile

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.