Elmwood Wealth Management Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 41.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,086 shares of the coffee company’s stock after selling 3,663 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Starbucks were worth $496,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Raleigh Capital Management Inc. raised its stake in shares of Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 198 shares in the last quarter. Centaurus Financial Inc. increased its holdings in Starbucks by 2.9% during the fourth quarter. Centaurus Financial Inc. now owns 7,629 shares of the coffee company’s stock worth $732,000 after buying an additional 216 shares during the last quarter. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth $26,000. Pineridge Advisors LLC acquired a new stake in Starbucks in the fourth quarter valued at $33,000. Finally, Vima LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $26,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Stock Performance
Shares of NASDAQ SBUX traded down $0.83 during trading hours on Monday, hitting $94.72. 1,341,348 shares of the stock were exchanged, compared to its average volume of 11,492,077. The company’s fifty day simple moving average is $92.86 and its two-hundred day simple moving average is $84.49. The company has a market cap of $107.29 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.
Insider Transactions at Starbucks
In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 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 owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Wedbush reaffirmed a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.16.
Read Our Latest Analysis on SBUX
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.
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