2,949 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Frisch Financial Group Inc.

Frisch Financial Group Inc. bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the third quarter, HoldingsChannel reports. The fund bought 2,949 shares of the coffee company’s stock, valued at approximately $288,000.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of Starbucks by 100.6% in the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after purchasing an additional 7,598,146 shares during the period. FMR LLC increased its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in Starbucks in the 2nd quarter valued at $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock worth $248,153,000 after purchasing an additional 2,329,431 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SBUX. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Wedbush reduced their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada initiated coverage on shares of Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Price Performance

Shares of SBUX opened at $99.31 on Tuesday. The company’s 50-day moving average is $98.12 and its 200-day moving average is $89.05. The firm 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. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Analysts predict 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.