InTrack Investment Management Inc Sells 4,610 Shares of Starbucks Co. (NASDAQ:SBUX)

InTrack Investment Management Inc lessened its position in Starbucks Co. (NASDAQ:SBUX) by 42.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,275 shares of the coffee company’s stock after selling 4,610 shares during the quarter. InTrack Investment Management Inc’s holdings in Starbucks were worth $612,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter worth $26,000. Vima LLC acquired a new stake in Starbucks in the 4th quarter worth $26,000. Fairman Group LLC bought a new position in shares of Starbucks during the 4th quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter valued at about $25,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Starbucks by 150.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 198 shares during the period. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Barclays boosted their price target on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America upped their target price on shares of Starbucks from $112.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Citigroup raised their price target on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $101.16.

Insider Buying and Selling

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

Shares of SBUX opened at $95.55 on Friday. The business’s fifty day moving average price is $92.86 and its two-hundred day moving average price is $84.54. The firm has a market capitalization of $108.28 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.11 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current 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.