Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Financial Avengers Inc.

Financial Avengers Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 10.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,761 shares of the coffee company’s stock after acquiring an additional 3,809 shares during the period. Starbucks accounts for about 2.0% of Financial Avengers Inc.’s holdings, making the stock its 14th biggest position. Financial Avengers Inc.’s holdings in Starbucks were worth $4,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. increased its position in Starbucks by 8.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 147,455 shares of the coffee company’s stock worth $14,398,000 after purchasing an additional 11,074 shares during the period. Geode Capital Management LLC increased its position in Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the period. Sender Co & Partners Inc. acquired a new position in Starbucks during the 3rd quarter worth approximately $1,495,000. Frisch Financial Group Inc. acquired a new position in Starbucks during the 3rd quarter worth approximately $288,000. Finally, Prestige Wealth Management Group LLC increased its position in Starbucks by 61.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 726 shares of the coffee company’s stock worth $71,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Barclays decreased their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Down 1.2 %

Shares of Starbucks stock opened at $98.16 on Wednesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a market cap of $111.29 billion, a PE ratio of 29.66, a P/E/G ratio of 2.94 and a beta of 0.97. The business’s fifty day moving average is $98.12 and its two-hundred day moving average is $89.05.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.