Rede Wealth LLC Buys 385 Shares of Starbucks Co. (NASDAQ:SBUX)

Rede Wealth LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,349 shares of the coffee company’s stock after acquiring an additional 385 shares during the period. Rede Wealth LLC’s holdings in Starbucks were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the last quarter. Legal & General Group Plc raised its position in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Flossbach Von Storch AG boosted 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. Nordea Investment Management AB grew its position in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the first quarter worth about $415,167,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $1.57 during trading hours on Friday, hitting $96.84. 6,178,250 shares of the company’s stock traded hands, compared to its average volume of 11,404,794. The business has a fifty day moving average price of $94.90 and a 200-day moving average price of $84.70. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market capitalization 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 (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Thursday, September 12th. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.44.

Insider Buying and Selling at Starbucks

In other 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 transaction of $299,916.40. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on 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. This represents 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 corporate insiders.

About Starbucks

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.