Colony Group LLC Increases Holdings in Starbucks Co. (NASDAQ:SBUX)
Colony Group LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,179 shares of the coffee company’s stock after buying an additional 3,131 shares during the period. Colony Group LLC’s holdings in Starbucks were worth $3,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in SBUX. Capital Wealth Alliance LLC bought a new stake in shares of Starbucks during the 4th quarter valued at $25,000. Regal Wealth Group Inc. grew its holdings in Starbucks by 210.7% during the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 217 shares during the period. Sound Income Strategies LLC grew its holdings in Starbucks by 209.0% during the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock valued at $30,000 after purchasing an additional 232 shares during the period. Tobias Financial Advisors Inc. purchased a new stake in Starbucks in the fourth quarter worth about $31,000. Finally, Solstein Capital LLC purchased a new stake in Starbucks in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 69.16% of the company’s stock.
SBUX stock opened at $65.81 on Thursday. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $99.72. The company has a 50-day moving average price of $77.65 and a 200 day moving average price of $84.93. The stock has a market cap of $76.15 billion, a PE ratio of 21.51, a P/E/G ratio of 1.67 and a beta of 0.58.
SBUX has been the topic of a number of analyst reports. Wedbush lowered their price objective on Starbucks from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Friday, March 6th. MKM Partners lowered shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $52.00 in a report on Monday. Piper Sandler decreased their target price on shares of Starbucks from $84.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 10th. JPMorgan Chase & Co. raised shares of Starbucks to a “buy” rating and set a $94.00 price target on the stock in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered their price target on shares of Starbucks from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating and thirteen have assigned a buy rating to the stock. Starbucks currently has an average rating of “Hold” and a consensus target price of $86.68.
In related news, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total transaction of $140,280.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $88.12, for a total transaction of $374,686.24. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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