Paladin Wealth LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) 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.
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.
Read Our Latest Analysis on SBUX
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.
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