Compass Wealth Management LLC Acquires 646 Shares of Starbucks Co. (NASDAQ:SBUX)

Compass Wealth Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 60.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,709 shares of the coffee company’s stock after buying an additional 646 shares during the period. Compass Wealth Management LLC’s holdings in Starbucks were worth $156,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SBUX. Interchange Capital Partners LLC lifted its stake in Starbucks by 21.4% during the third quarter. Interchange Capital Partners LLC now owns 7,952 shares of the coffee company’s stock worth $726,000 after purchasing an additional 1,400 shares during the last quarter. Rathbones Group PLC lifted its stake in Starbucks by 11.3% during the third quarter. Rathbones Group PLC now owns 60,011 shares of the coffee company’s stock worth $5,477,000 after purchasing an additional 6,108 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Starbucks by 1,654.4% during the third quarter. V Square Quantitative Management LLC now owns 2,000 shares of the coffee company’s stock worth $183,000 after purchasing an additional 1,886 shares during the last quarter. SBB Research Group LLC lifted its stake in Starbucks by 22.6% during the third quarter. SBB Research Group LLC now owns 8,886 shares of the coffee company’s stock worth $811,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Institutional & Family Asset Management LLC lifted its stake in Starbucks by 0.4% during the third quarter. Institutional & Family Asset Management LLC now owns 56,045 shares of the coffee company’s stock worth $5,115,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SBUX. TD Cowen reaffirmed a “hold” rating and set a $85.00 price target on shares of Starbucks in a research note on Thursday, June 13th. The Goldman Sachs Group started coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Finally, Piper Sandler lowered their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and an average target price of $95.00.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 in the last ninety days. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $80.20 on Thursday. The company has a market capitalization of $90.84 billion, a PE ratio of 22.09, a P/E/G ratio of 1.75 and a beta of 0.96. The company has a 50 day moving average price of $80.61 and a 200-day moving average price of $88.89. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current year.

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.