3,092 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Cedrus LLC

Cedrus LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,092 shares of the coffee company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC boosted its stake in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp grew its holdings in Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after buying an additional 10,092 shares in the last quarter. LRI Investments LLC acquired a new stake in Starbucks in the 1st quarter valued at approximately $136,000. BNP Paribas bought a new stake in Starbucks during the 1st quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. boosted its position in Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after acquiring an additional 5,377 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.6 %

Shares of NASDAQ:SBUX opened at $96.84 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market cap of $109.69 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. The company’s fifty day moving average is $94.90 and its two-hundred 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, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Barclays boosted their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. BTIG Research increased their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 owns 75,054 shares of the company’s stock, 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 can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.