Tilia Fiduciary Partners Inc. purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,422 shares of the coffee company’s stock, valued at approximately $236,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the second quarter valued at approximately $25,000. Vima LLC purchased a new position in shares of Starbucks in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter worth approximately $26,000. Finally, Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the period. 72.29% of the stock is owned by institutional investors.
Starbucks Stock Down 0.3 %
SBUX traded down $0.28 during midday trading on Wednesday, reaching $95.93. The company had a trading volume of 553,667 shares, compared to its average volume of 11,594,896. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market cap of $108.66 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.12 and a beta of 0.97. The business has a 50-day moving average of $91.74 and a two-hundred day moving average of $84.40.
Analyst Ratings Changes
Several research analysts have commented on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.16.
Read Our Latest Research Report on Starbucks
Insider Transactions at Starbucks
In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.
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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