Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Tredje AP fonden

Tredje AP fonden grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 83.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 355,804 shares of the coffee company’s stock after purchasing an additional 161,800 shares during the quarter. Tredje AP fonden’s holdings in Starbucks were worth $27,699,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter worth approximately $26,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in shares of 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 buying an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Starbucks during the 4th quarter worth $27,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $96.44 on Wednesday. The company has a market capitalization of $109.29 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.38 and a beta of 0.96. The stock’s 50 day simple moving average is $85.30 and its 200 day simple moving average is $83.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $9.25 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price 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. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated 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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBUX. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Citigroup raised their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Wedbush reissued a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.83.

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.