Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,924 shares of the coffee company’s stock after acquiring an additional 4,559 shares during the period. Procyon Advisors LLC’s holdings in Starbucks were worth $3,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the second quarter valued at $25,000. Vima LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC purchased a new stake in Starbucks during the second quarter worth $26,000. Finally, Stephens Consulting LLC grew its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $95.30 on Monday. The company’s fifty day moving average price is $92.86 and its 200 day moving average price is $84.49. The company has a market capitalization of $107.95 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. Analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, 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 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 commented on SBUX shares. Barclays boosted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Citigroup increased their price objective on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $101.16.

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.