Paladin Wealth LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Paladin Wealth LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, Holdings Channel reports. The institutional investor purchased 7,534 shares of the coffee company’s stock, valued at approximately $734,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Starbucks by 8.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 18,286 shares of the coffee company’s stock worth $1,783,000 after buying an additional 1,415 shares during the last quarter. Orca Investment Management LLC raised its position in Starbucks by 6.5% in the third quarter. Orca Investment Management LLC now owns 7,344 shares of the coffee company’s stock worth $716,000 after acquiring an additional 451 shares during the period. Martin Capital Advisors LLP grew its position in shares of Starbucks by 0.7% during the 3rd quarter. Martin Capital Advisors LLP now owns 32,319 shares of the coffee company’s stock valued at $3,151,000 after acquiring an additional 231 shares during the period. Viking Fund Management LLC grew its position in shares of Starbucks by 20.7% during the 3rd quarter. Viking Fund Management LLC now owns 105,000 shares of the coffee company’s stock valued at $10,236,000 after acquiring an additional 18,000 shares during the period. Finally, Stonekeep Investments LLC purchased a new stake in shares of Starbucks during the 3rd quarter worth approximately $258,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $95.30 on Monday. The business’s 50-day moving average is $92.86 and its 200 day moving average is $84.49. The stock has a market capitalization of $107.95 billion, a PE ratio of 26.32, a PEG ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 completion of 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 disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Stifel Nicolaus raised 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 report on Wednesday, August 14th. Robert W. Baird raised 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 report on Tuesday, August 13th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.16.

Starbucks 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.