Perfromance Wealth Partners LLC Buys Shares of 4,400 Starbucks Co. (NASDAQ:SBUX)

Perfromance Wealth Partners LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,400 shares of the coffee company’s stock, valued at approximately $429,000.

Several other large investors also recently bought and sold shares of SBUX. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $26,000. Vima LLC purchased a new position in Starbucks in the 4th quarter worth approximately $26,000. Fairman Group LLC bought a new position in shares of Starbucks during the fourth quarter worth $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the second quarter valued at $25,000. Finally, Raleigh Capital Management Inc. increased its holdings in 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 acquiring an additional 198 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 1.8 %

Shares of SBUX stock traded up $1.67 during trading hours on Friday, hitting $95.55. 4,834,808 shares of the company’s stock were exchanged, compared to its average volume of 11,543,598. The firm has a 50 day moving average of $92.86 and a two-hundred day moving average of $84.58. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market cap of $108.28 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.11 and a beta of 0.97.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Thursday, September 12th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. BMO Capital Markets boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. 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 note on Tuesday, August 13th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.16.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. 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.

Starbucks Company 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.