Swedbank AB Buys 2,173 Shares of Starbucks Co. (NASDAQ:SBUX)

Swedbank AB increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 552,169 shares of the coffee company’s stock after buying an additional 2,173 shares during the period. Swedbank AB’s holdings in Starbucks were worth $53,831,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. Scarborough Advisors LLC bought a new stake in Starbucks in the 4th quarter worth approximately $26,000. New Millennium Group LLC bought a new stake in Starbucks in the 2nd quarter worth approximately $26,000. Stephens Consulting LLC grew its position in shares of 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 acquiring an additional 279 shares during the period. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $27,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.3 %

SBUX stock opened at $95.04 on Wednesday. The company has a market capitalization of $107.65 billion, a P/E ratio of 26.18, a PEG ratio of 2.06 and a beta of 0.97. The company has a 50-day simple moving average of $93.67 and a 200 day simple moving average of $84.54. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

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

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, 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. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. Finally, Barclays raised 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. 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 stock. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $101.16.

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.