Richardson Financial Services Inc. Takes Position in Starbucks Co. (NASDAQ:SBUX)

Richardson Financial Services Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,310 shares of the coffee company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its stake in shares of Starbucks by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,120 shares of the coffee company’s stock valued at $108,000 after buying an additional 560 shares in the last quarter. Vima LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new position in Starbucks during the 4th quarter valued at about $68,000. Pineridge Advisors LLC bought a new stake in Starbucks during the 4th quarter worth approximately $33,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.59 during trading on Friday, hitting $79.65. 7,192,438 shares of the company were exchanged, compared to its average volume of 10,999,455. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock has a 50 day moving average of $80.98 and a 200 day moving average of $89.21. The company has a market cap of $90.22 billion, a PE ratio of 21.94, a P/E/G ratio of 1.74 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. BTIG Research cut their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. HSBC reduced their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Wedbush dropped their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Bank of America upped their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus dropped their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,750 shares of company stock worth $642,050. 1.98% of the stock is owned by company insiders.

About Starbucks

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.