Strait & Sound Wealth Management LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 12.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,610 shares of the coffee company’s stock after selling 1,452 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Starbucks were worth $1,034,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in shares of Starbucks by 15.0% during the second quarter. RFG Advisory LLC now owns 11,908 shares of the coffee company’s stock valued at $927,000 after purchasing an additional 1,555 shares in the last quarter. LVW Advisors LLC raised its position in shares of Starbucks by 6.7% during the 2nd quarter. LVW Advisors LLC now owns 2,649 shares of the coffee company’s stock worth $206,000 after buying an additional 166 shares in the last quarter. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of Starbucks in the 2nd quarter worth approximately $248,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Starbucks by 4.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 555,484 shares of the coffee company’s stock valued at $43,244,000 after acquiring an additional 24,164 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its stake in shares of Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after acquiring an additional 5,377 shares during the period. Institutional investors own 72.29% of the company’s stock.
Insiders Place Their Bets
In related news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Report on Starbucks
Starbucks Stock Performance
Shares of SBUX opened at $99.31 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company has a market capitalization of $112.60 billion, a PE ratio of 30.00, a PEG ratio of 2.94 and a beta of 0.97. The company’s 50 day moving average price is $98.12 and its 200 day moving average price is $89.05.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Starbucks
- What Are Some of the Best Large-Cap Stocks to Buy?
- Bargains Galore? 3 Stocks With Insider Buying in the Millions
- Best Aerospace Stocks Investing
- Is Amplitude an AI Sleeper Stock in the Making for 2025?
- Learn Technical Analysis Skills to Master the Stock Market
- Pure Storage Rides the AI Boom Even Higher in 2025
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.