Mitchell & Pahl Private Wealth LLC Has $1.60 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Mitchell & Pahl Private Wealth LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the third quarter, Holdings Channel reports. The firm owned 16,450 shares of the coffee company’s stock after purchasing an additional 1,742 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Starbucks were worth $1,604,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth about $25,000. Scarborough Advisors LLC bought a new stake in Starbucks in the fourth quarter worth approximately $26,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $27,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX stock traded up $0.51 during mid-day trading on Thursday, hitting $95.97. The company had a trading volume of 1,794,534 shares, compared to its average volume of 11,410,655. The firm has a market cap of $108.71 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock’s fifty day moving average price is $94.08 and its two-hundred day moving average price is $84.62.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the business posted $1.00 EPS. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on SBUX shares. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, BTIG Research boosted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.44.

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.