Summit Trail Advisors LLC Acquires 3,549 Shares of Starbucks Co. (NASDAQ:SBUX)

Summit Trail Advisors LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 27.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,672 shares of the coffee company’s stock after acquiring an additional 3,549 shares during the quarter. Summit Trail Advisors LLC’s holdings in Starbucks were worth $1,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks during the first quarter valued at about $415,167,000. Diamond Hill Capital Management Inc. bought a new stake in Starbucks during the second quarter worth approximately $243,910,000. Flossbach Von Storch AG increased its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Capital World Investors bought a new stake in Starbucks during the first quarter worth approximately $257,721,000. Finally, Van ECK Associates Corp increased its stake in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBUX. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note 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. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Barclays upped their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.08.

Starbucks Stock Down 0.9 %

NASDAQ:SBUX opened at $96.05 on Friday. The company has a fifty day simple moving average of $86.67 and a two-hundred day simple moving average of $84.04. The company has a market cap of $108.84 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 earnings per share. On average, analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Company 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.