Recently, institutional investors made several changes to their Starbucks (SBUX) positions. Below are some key transactions:
- Scarborough Advisors LLC invested $26,000.
- Vima LLC added a $26,000 stake.
- Fairman Group LLC invested about $30,000.
- Strategic Investment Solutions Inc. bought $25,000 worth of shares.
- Raleigh Capital Management increased its holdings by 150% and now owns 330 shares valued at $32,000.
Overall, institutional investors own 72.29% of Starbucks.
Starbucks Stock Performance
On Thursday, SBUX opened at $96.50. The stock has fluctuated between a low of $71.55 and a high of $107.66 in the past year. Its market cap is $109.31 billion, with a P/E ratio of 26.58.
Starbucks reported quarterly earnings on July 30, showing $0.93 earnings per share, matching expectations. Revenue was $9.11 billion, slightly below the anticipated $9.25 billion. The company experienced a 0.6% drop in revenue compared to last year.
Analyst Ratings
Analyst ratings for SBUX vary:
- DZ Bank downgraded to sell with a price target of $85.00.
- TD Cowen maintained a buy rating, target at $110.00.
- Evercore ISI upgraded to outperform with a new target of $120.00.
- Wedbush issued a neutral rating at $80.00.
- Jefferies downgraded to underperform with a target of $76.00.
Overall, analysts rate Starbucks as a “Moderate Buy” with an average price target of $101.12.
Insider Transactions
In recent insider activity, Director Jorgen Vig Knudstorp bought 380 shares at $91.50 each. Meanwhile, CEO Rachel Ruggeri sold 3,290 shares at an average price of $91.16.
About Starbucks
Starbucks Corporation is a global coffee roaster and retailer. It operates in three segments: North America, International, and Channel Development, offering a variety of coffee, tea, and food products.
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