Romano Brothers AND Company cut its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,350 shares of the coffee company’s stock after selling 150 shares during the quarter. Romano Brothers AND Company’s holdings in Starbucks were worth $3,700,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Starbucks in the fourth quarter worth $1,222,931,000. Moneta Group Investment Advisors LLC raised its holdings in Starbucks by 115,334.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock worth $842,569,000 after purchasing an additional 8,486,281 shares during the period. Morgan Stanley raised its holdings in Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares during the period. Renaissance Technologies LLC acquired a new stake in Starbucks in the first quarter worth $190,270,000. Finally, Amundi raised its holdings in Starbucks by 86.5% in the fourth quarter. Amundi now owns 4,130,788 shares of the coffee company’s stock worth $436,661,000 after purchasing an additional 1,915,771 shares during the period. 70.13% of the stock is owned by institutional investors.
Starbucks Price Performance
Starbucks stock traded down $2.00 during midday trading on Tuesday, hitting $94.76. The company’s stock had a trading volume of 2,990,858 shares, compared to its average volume of 6,214,348. The company has a 50-day moving average price of $99.19 and a two-hundred day moving average price of $101.43. The company has a market cap of $108.54 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.69 and a beta of 0.93. Starbucks Co. has a 1-year low of $82.43 and a 1-year high of $115.48.
Insiders Place Their Bets
In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.98% of the company’s stock.
Analyst Ratings Changes
SBUX has been the topic of several analyst reports. Bank of America increased their target price on shares of Starbucks from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Barclays dropped their price objective on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a report on Wednesday, August 2nd. TD Cowen lowered shares of Starbucks from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $117.00 to $107.00 in a report on Tuesday. Stifel Nicolaus dropped their price objective on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Wednesday, August 2nd. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.76.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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