Insider Buying and Selling at Starbucks

Ameliora Wealth Management Ltd. has reduced its stake in Starbucks by 44.9% during the second quarter, according to their recent SEC filing. The institutional investor now owns 4,771 shares of Starbucks’ stock, down from 8,663 shares. Other institutional investors, such as Norges Bank, Moneta Group Investment Advisors LLC, Morgan Stanley, Renaissance Technologies LLC, and Amundi, have also made modifications to their holdings of the company’s stock.

In other news, Starbucks CFO Rachel Ruggeri sold 679 shares of Starbucks stock in June for a total of $68,307.40. This amounts to 1.98% of the company’s stock. Ruggeri now directly owns 54,761 shares of Starbucks stock, currently valued at $5,508,956.60.

Starbucks’ stock price has decreased by 1.0% and is currently trading at $96.23. The company has a market capitalization of $110.22 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.71, and a beta of 0.93.

Starbucks recently reported its quarterly earnings, which showed earnings per share of $1.00, beating analysts’ consensus estimates of $0.95. The company’s revenue for the quarter was $9.17 billion, slightly below the consensus estimate of $9.29 billion. Starbucks’ net margin is 10.81%, with a negative return on equity of 44.46%. The company’s quarterly revenue increased by 12.5% compared to the same period last year. Analysts expect Starbucks to post earnings per share of 3.45 for this year.

Several brokerages have commented on Starbucks’ stock. Bank of America raised its price target from $131.00 to $150.00 and gave the stock a “buy” rating. Stifel Nicolaus dropped their target price from $117.00 to $110.00 and rated the stock as “hold.” started coverage on Starbucks and issued a “buy” rating. Stephens reaffirmed an “equal weight” rating with a target price of $110.00. Wells Fargo also dropped their target price from $125.00 to $120.00 but maintained their “overweight” rating. In total, 10 analysts rate the stock as “hold” while 12 analysts rate it as “buy.”

Starbucks operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. They offer various coffee and tea beverages, as well as food products such as pastries, breakfast sandwiches, and lunch items.

Overall, there seem to be mixed opinions on Starbucks’ stock, with some institutions reducing their stake and others modifying their holdings. The recent insider selling by the CFO raises questions about the company’s future prospects. Analysts have varying opinions, with some upgrading the stock and others downgrading it.