Castle Rock Wealth Management LLC Has $1.89 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Castle Rock Wealth Management LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.5% in the 3rd quarter, Holdings Channel reports. The firm owned 19,598 shares of the coffee company’s stock after buying an additional 297 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Starbucks were worth $1,890,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SBUX. Cox Capital Mgt LLC raised its position in shares of Starbucks by 41.9% during the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after buying an additional 13,372 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in Starbucks in the 4th quarter valued at $31,246,000. Fidelis Capital Partners LLC increased its holdings in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares during the period. TKG Advisors LLC raised its stake in shares of Starbucks by 4.6% in the 4th quarter. TKG Advisors LLC now owns 19,503 shares of the coffee company’s stock valued at $1,873,000 after buying an additional 860 shares in the last quarter. Finally, AMI Asset Management Corp lifted its holdings in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after acquiring an additional 10,092 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated 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 acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SBUX shares. Morgan Stanley restated an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research note on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. Two equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.78 during mid-day trading on Friday, hitting $95.66. The company had a trading volume of 1,053,070 shares, compared to its average volume of 11,524,407. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market cap of $108.40 billion, a P/E ratio of 26.72, a P/E/G ratio of 2.11 and a beta of 0.97. The business’s fifty day moving average is $92.47 and its two-hundred day moving average is $84.55.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.55 earnings per share 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.