MGO One Seven LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

MGO One Seven LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,465 shares of the coffee company’s stock after buying an additional 1,510 shares during the quarter. MGO One Seven LLC’s holdings in Starbucks were worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in Starbucks by 391.8% in the second quarter. Headlands Technologies LLC now owns 38,397 shares of the coffee company’s stock valued at $2,989,000 after purchasing an additional 30,590 shares during the last quarter. Van Hulzen Asset Management LLC boosted its stake in shares of Starbucks by 46.2% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 34,926 shares of the coffee company’s stock valued at $2,719,000 after buying an additional 11,030 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Starbucks by 4.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 197,207 shares of the coffee company’s stock valued at $15,353,000 after buying an additional 8,567 shares during the last quarter. Doheny Asset Management CA grew its position in shares of Starbucks by 84.0% during the second quarter. Doheny Asset Management CA now owns 16,535 shares of the coffee company’s stock worth $1,217,000 after buying an additional 7,551 shares in the last quarter. Finally, Hutchinson Capital Management CA bought a new stake in shares of Starbucks in the second quarter worth $12,966,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SBUX shares. Bank of America increased their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.83.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX opened at $98.20 on Thursday. The stock’s 50 day moving average price is $83.48 and its 200 day moving average price is $83.86. The stock has a market cap of $111.28 billion, a P/E ratio of 27.05, a P/E/G ratio of 2.18 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

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.