Vest Financial LLC Makes New $720,000 Investment in Starbucks Co. (NASDAQ:SBUX)

Vest Financial LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,384 shares of the coffee company’s stock, valued at approximately $720,000.

A number of other institutional investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks in the 2nd quarter worth approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. BTIG Research increased their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Barclays increased their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, Citigroup boosted their price target on Starbucks from $98.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Price Performance

SBUX stock opened at $96.45 on Tuesday. The stock has a market capitalization of $109.30 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.14 and a beta of 0.97. The business has a fifty day moving average price of $95.29 and a 200 day moving average price of $84.73. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

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 analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. 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 business posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal 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.