4,823 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Kessler Investment Group LLC

Kessler Investment Group LLC purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,823 shares of the coffee company’s stock, valued at approximately $470,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Starbucks in the 2nd quarter worth about $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Starbucks in the 2nd quarter valued at about $31,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SBUX shares. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. DZ Bank downgraded shares of 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. BMO Capital Markets increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have given 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.44.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.04 during mid-day trading on Tuesday, reaching $96.49. 549,309 shares of the company’s stock were exchanged, compared to its average volume of 11,315,263. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $109.29 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.14 and a beta of 0.97. The company’s 50-day moving average is $95.29 and its 200-day moving average is $84.73.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate 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 negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. As a group, equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

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.