Synergy Financial Group LTD Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Synergy Financial Group LTD reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,432 shares of the coffee company’s stock after selling 256 shares during the quarter. Starbucks accounts for approximately 0.9% of Synergy Financial Group LTD’s portfolio, making the stock its 27th largest holding. Synergy Financial Group LTD’s holdings in Starbucks were worth $920,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC boosted 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 acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth about $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in Starbucks in the 2nd quarter valued at about $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Trading Down 0.8 %

SBUX stock opened at $99.31 on Tuesday. The business’s 50 day simple moving average is $98.12 and its 200 day simple moving average is $89.05. The firm has a market capitalization of $112.60 billion, a PE ratio of 30.00, a PEG ratio of 2.94 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts predict that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

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.