Castle Rock Wealth Management LLC Grows Stake in Starbucks Co. (NASDAQ:SBUX)

Castle Rock Wealth Management LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,598 shares of the coffee company’s stock after purchasing an additional 297 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Starbucks were worth $1,890,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at approximately $25,000. Vima LLC acquired a new position in shares of Starbucks in the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter valued at $26,000. Finally, Stephens Consulting LLC increased its position in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SBUX. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America lifted their target price on shares of Starbucks from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.16.

Starbucks Price Performance

NASDAQ:SBUX traded up $1.78 during midday trading on Friday, reaching $95.66. 1,053,070 shares of the company traded hands, compared to its average volume of 11,524,407. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a fifty day moving average price of $92.47 and a 200 day moving average price of $84.55. The firm has a market capitalization of $108.40 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 2.11 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.