City State Bank Purchases 1,000 Shares of Starbucks Co. (NASDAQ:SBUX)

City State Bank increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 16.0% in the third quarter, Holdings Channel reports. The institutional investor owned 7,264 shares of the coffee company’s stock after buying an additional 1,000 shares during the period. City State Bank’s holdings in Starbucks were worth $708,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Fairman Group LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter worth approximately $25,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of Starbucks by 150.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 198 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related 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 transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was 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 approximately $7,057,327.62. The trade was 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on SBUX shares. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.16.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $95.55 on Friday. The stock has a market capitalization of $108.28 billion, a P/E ratio of 26.76, a PEG ratio of 2.11 and a beta of 0.97. The stock’s fifty day moving average is $92.86 and its 200 day moving average is $84.54. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 EPS. Equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

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.