Schaper Benz & Wise Investment Counsel Inc. WI Increases Holdings in Starbucks Co. (NASDAQ:SBUX)

Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in Starbucks Co. (NASDAQ:SBUX) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 167,670 shares of the coffee company’s stock after buying an additional 2,261 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Starbucks were worth $16,346,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. RFG Advisory LLC increased its holdings in Starbucks by 5.2% in the 1st quarter. RFG Advisory LLC now owns 10,353 shares of the coffee company’s stock worth $946,000 after acquiring an additional 513 shares during the last quarter. International Assets Investment Management LLC boosted its position in Starbucks by 2.6% during the first quarter. International Assets Investment Management LLC now owns 8,271 shares of the coffee company’s stock worth $757,000 after purchasing an additional 211 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Starbucks by 9.3% in the first quarter. Salem Investment Counselors Inc. now owns 6,794 shares of the coffee company’s stock worth $621,000 after purchasing an additional 579 shares in the last quarter. Cooper Financial Group raised its position in shares of Starbucks by 9.0% in the first quarter. Cooper Financial Group now owns 7,910 shares of the coffee company’s stock valued at $723,000 after purchasing an additional 654 shares during the period. Finally, City Holding Co. lifted its stake in shares of Starbucks by 14.3% during the 1st quarter. City Holding Co. now owns 17,141 shares of the coffee company’s stock valued at $1,566,000 after buying an additional 2,143 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.6 %

Shares of NASDAQ SBUX opened at $96.84 on Friday. The stock has a market cap of $109.69 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock’s 50-day moving average is $94.90 and its 200 day moving average is $84.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. On average, analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBUX. Citigroup lifted their price objective on shares of Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. 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 report on Thursday, September 26th. Piper Sandler upgraded 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. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

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.