Silver Lake Advisory LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,974 shares of the coffee company’s stock, valued at approximately $232,000.
A number of other large investors also recently added to or reduced their stakes in SBUX. Gryphon Financial Partners LLC increased its stake in Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after purchasing an additional 2,558 shares during the period. Evoke Wealth LLC lifted its holdings in Starbucks by 1.6% during the 4th quarter. Evoke Wealth LLC now owns 10,201 shares of the coffee company’s stock worth $979,000 after buying an additional 164 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its position in Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after buying an additional 133 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Starbucks by 1.4% in the fourth quarter. Jones Financial Companies Lllp now owns 86,412 shares of the coffee company’s stock worth $8,296,000 after acquiring an additional 1,167 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Starbucks by 40.9% during the fourth quarter. CWA Asset Management Group LLC now owns 4,708 shares of the coffee company’s stock worth $452,000 after acquiring an additional 1,367 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Price Performance
Shares of Starbucks stock opened at $97.36 on Monday. The firm’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $84.15. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $110.28 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 2.26 and a beta of 0.96.
Insider Activity at Starbucks
In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts recently commented on SBUX shares. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $110.00 in a research note on Wednesday, August 14th. Bank of America lifted their price objective on Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Citigroup lifted their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.52.
Check Out Our Latest Stock Report on SBUX
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.
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