Starbucks Co. (NASDAQ:SBUX) Shares Bought by Wrapmanager Inc.

Wrapmanager Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 65.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,165 shares of the coffee company’s stock after buying an additional 1,654 shares during the quarter. Wrapmanager Inc.’s holdings in Starbucks were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Gryphon Financial Partners LLC boosted its holdings in Starbucks by 96.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after buying an additional 2,558 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Starbucks by 0.5% in the 4th quarter. First Eagle Investment Management LLC now owns 50,910 shares of the coffee company’s stock valued at $4,888,000 after purchasing an additional 240 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in Starbucks by 14.8% in the 4th quarter. Level Four Advisory Services LLC now owns 10,080 shares of the coffee company’s stock worth $968,000 after purchasing an additional 1,299 shares during the period. Verity Asset Management Inc. purchased a new position in Starbucks during the fourth quarter worth approximately $203,000. Finally, Independent Advisor Alliance grew its holdings in Starbucks by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 45,337 shares of the coffee company’s stock valued at $4,353,000 after purchasing an additional 516 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. 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 brokerages have recently issued reports on SBUX. Morgan Stanley reiterated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Jefferies Financial Group lowered their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $99.83.

Starbucks Trading Down 0.7 %

Shares of SBUX opened at $98.57 on Friday. The firm has a market cap of $111.65 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96. The company’s 50-day moving average price is $84.39 and its 200 day moving average price is $83.92. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the company posted $1.00 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current 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.