2,848 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Prospect Financial Services LLC

Prospect Financial Services LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,848 shares of the coffee company’s stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth approximately $25,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC raised its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new position in Starbucks in the second quarter valued at $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Up 0.3 %

SBUX stock opened at $95.04 on Wednesday. The firm has a market cap of $107.65 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.06 and a beta of 0.97. The stock’s 50 day simple moving average is $93.67 and its 200 day simple moving average is $84.54. 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 results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. On average, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Citigroup boosted their price objective on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock 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 given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

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.