Check Capital Management Inc. CA purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 29,960 shares of the coffee company’s stock, valued at approximately $1,703,000. Starbucks makes up about 0.1% of Check Capital Management Inc. CA’s holdings, making the stock its 29th largest position.
Other institutional investors have also bought and sold shares of the company. Polaris Greystone Financial Group LLC acquired a new position in shares of Starbucks during the 3rd quarter worth $107,000. Archford Capital Strategies LLC raised its holdings in shares of Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after buying an additional 1,902 shares in the last quarter. Fort L.P. acquired a new position in shares of Starbucks during the 2nd quarter worth $112,000. Point72 Hong Kong Ltd acquired a new position in shares of Starbucks during the 2nd quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC raised its holdings in shares of Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after buying an additional 1,673 shares in the last quarter. 71.86% of the stock is owned by institutional investors.
In related news, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the director now owns 29,000 shares in the company, valued at approximately $1,511,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rosalind G. Brewer bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $54.04 per share, for a total transaction of $270,200.00. Following the transaction, the insider now owns 7,302 shares in the company, valued at $394,600.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 295,832 shares of company stock worth $15,834,037. 3.48% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on SBUX shares. Wedbush lowered their target price on Starbucks from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, July 27th. BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Bank of America upped their target price on Starbucks from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, ValuEngine upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks currently has an average rating of “Buy” and a consensus target price of $60.62.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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