Posted by Defense World Staff on Jun 17th, 2024
ICA Group Wealth Management LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 18.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,210 shares of the coffee company’s stock after purchasing an additional 1,123 shares during the period. ICA Group Wealth Management LLC’s holdings in Starbucks were worth $692,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SBUX. Vima LLC purchased a new stake in shares of Starbucks in the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Cypress Capital Management LLC WY boosted its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the period. Institutional investors own 72.29% of the company’s stock.
Insider Buying and Selling
In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold a total of 7,750 shares of company stock valued at $642,050 over the last three months. Corporate insiders own 1.98% of the company’s stock.
Analyst Upgrades and Downgrades
SBUX has been the topic of a number of recent analyst reports. Bank of America increased their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and lowered their price target for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, TD Cowen reiterated a “hold” rating and set a $85.00 target price on shares of Starbucks in a research report on Thursday. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $95.00.
Check Out Our Latest Stock Analysis on SBUX
Starbucks Stock Performance
SBUX opened at $79.50 on Monday. The stock has a market capitalization of $90.05 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The stock’s 50 day moving average price is $80.98 and its 200-day moving average price is $89.21. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the firm earned $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 3.59 EPS for the current fiscal year.
Starbucks Company 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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