Fairman Group LLC Invests $30,000 in Starbucks Co. (NASDAQ:SBUX)

Fairman Group LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 310 shares of the coffee company’s stock, valued at approximately $30,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Starbucks in the 4th quarter worth approximately $1,240,652,000. Flossbach Von Storch AG increased its stake in shares of Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Starbucks by 342.7% during the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after purchasing an additional 1,672,656 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after purchasing an additional 1,656,591 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after buying an additional 1,591,206 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 1.4 %

Shares of NASDAQ:SBUX opened at $80.20 on Wednesday. The business’s 50 day moving average is $80.73 and its 200 day moving average is $88.95. The stock has a market cap of $90.84 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The business’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Insider Activity

In related news, 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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,000 shares of company stock worth $902,050. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Guggenheim lowered their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and dropped their price target for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Piper Sandler reduced their price objective on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Wedbush dropped their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, The Goldman Sachs Group assumed coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target on the stock. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

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.