Mogy Joel R Investment Counsel Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 271,613 shares of the coffee company’s stock after selling 27,765 shares during the quarter. Starbucks comprises about 1.6% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 21st biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Starbucks were worth $26,480,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks during the first quarter valued at approximately $415,167,000. Marshall Wace LLP boosted its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Starbucks in the 2nd quarter valued at $243,910,000. Flossbach Von Storch AG lifted its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Finally, Capital World Investors bought a new position in shares of Starbucks during the 1st quarter valued at about $257,721,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Starbucks Stock Up 1.6 %
Shares of NASDAQ:SBUX opened at $96.84 on Friday. The business’s 50 day moving average is $94.90 and its 200 day moving average is $84.73. The stock has a market cap of $109.69 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.
Insider Transactions at Starbucks
In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on SBUX shares. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.44.
Get Our Latest Research Report on Starbucks
Starbucks Company 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.
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