Paladin Wealth LLC Buys Shares of 7,534 Starbucks Co. (NASDAQ:SBUX)

Paladin Wealth LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,534 shares of the coffee company’s stock, valued at approximately $734,000.

Several other institutional investors have also modified their holdings of SBUX. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Starbucks by 8.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 18,286 shares of the coffee company’s stock valued at $1,783,000 after purchasing an additional 1,415 shares in the last quarter. Orca Investment Management LLC lifted its stake in Starbucks by 6.5% in the 3rd quarter. Orca Investment Management LLC now owns 7,344 shares of the coffee company’s stock valued at $716,000 after acquiring an additional 451 shares in the last quarter. Martin Capital Advisors LLP boosted its position in Starbucks by 0.7% during the 3rd quarter. Martin Capital Advisors LLP now owns 32,319 shares of the coffee company’s stock worth $3,151,000 after acquiring an additional 231 shares during the last quarter. Viking Fund Management LLC raised its holdings in shares of Starbucks by 20.7% in the third quarter. Viking Fund Management LLC now owns 105,000 shares of the coffee company’s stock valued at $10,236,000 after purchasing an additional 18,000 shares during the last quarter. Finally, Stonekeep Investments LLC bought a new stake in shares of Starbucks in the third quarter worth $258,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3 %

Shares of SBUX stock opened at $95.30 on Monday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock’s fifty day simple moving average is $92.86 and its 200 day simple moving average is $84.49. The firm has a market capitalization of $107.95 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.06 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, equities research analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SBUX. Bank of America lifted their price target on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.16.

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.