Richardson Financial Services Inc. purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,310 shares of the coffee company’s stock, valued at approximately $222,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its stake in shares of Starbucks by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 1,120 shares of the coffee company’s stock valued at $108,000 after buying an additional 560 shares in the last quarter. Vima LLC bought a new position in Starbucks in the 4th quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new position in Starbucks during the 4th quarter valued at about $68,000. Pineridge Advisors LLC bought a new stake in Starbucks during the 4th quarter worth approximately $33,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Institutional investors own 72.29% of the company’s stock.
Starbucks Price Performance
Shares of NASDAQ:SBUX traded down $0.59 during trading on Friday, hitting $79.65. 7,192,438 shares of the company were exchanged, compared to its average volume of 10,999,455. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock has a 50 day moving average of $80.98 and a 200 day moving average of $89.21. The company has a market cap of $90.22 billion, a PE ratio of 21.94, a P/E/G ratio of 1.74 and a beta of 0.96.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SBUX. BTIG Research cut their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. HSBC reduced their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Wedbush dropped their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Bank of America upped their price objective on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Stifel Nicolaus dropped their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $95.00.
View Our Latest Stock Report on SBUX
Insider Activity
In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,750 shares of company stock worth $642,050. 1.98% of the stock is owned by company insiders.
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.
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