Park Place Capital Corp Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

Park Place Capital Corp boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 167.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,291 shares of the coffee company’s stock after purchasing an additional 6,446 shares during the quarter. Park Place Capital Corp’s holdings in Starbucks were worth $1,003,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of Starbucks during the 4th quarter worth $26,000. Vima LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. Fairman Group LLC acquired a new stake in Starbucks in the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. Finally, Raleigh Capital Management Inc. grew its stake in Starbucks by 150.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average price 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average price 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

NASDAQ SBUX traded down $0.55 during mid-day trading on Tuesday, hitting $95.54. The company’s stock had a trading volume of 2,273,049 shares, compared to its average volume of 11,629,530. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s fifty day simple moving average is $91.33 and its two-hundred day simple moving average is $84.36. The firm has a market capitalization of $108.22 billion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America upped their target price on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.12.

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.