Investing in Starbucks Corporation (SBUX) Is Getting More Attractive


In a filing, Starbucks Corporation revealed its evp, cfo Ruggeri Rachel unloaded Company’s shares for reported $77648.0 on Feb 21. In the deal valued at $105.50 per share,736 shares were sold. As a result of this transaction, Ruggeri Rachel now holds 56,028 shares worth roughly $ 5.69 million.

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Then, Jenkins Zabrina sold 2,962 shares, generating $321,317 in total proceeds. Upon selling the shares at $108.48, the acting evp, general counsel now owns 38,258 shares.

Before that, Ruggeri Rachel sold 3,960 shares. Starbucks Corporation shares valued at $421,740 were divested by the evp, cfo at a price of $106.50 per share. As a result of the transaction, Ruggeri Rachel now holds 57,962 shares, worth roughly $5.89 million.

Wells Fargo initiated its Starbucks Corporation [SBUX] rating to an Overweight in a research note published on Friday, January 24, 2023; the price target was $120. PT values the company’s stock at a premium of 15.33 to its Friday closing price. A number of analysts have revised their coverage, including Jefferies’s analysts, who decreased its forecast for the stock in late December from “a Buy” to “a Hold”. Deutsche Bank also remained covering SBUX and has decreased its forecast on December 05, 2022 with a “Hold” recommendation from previously “Buy” rating. Stephens started covering the stock on September 23, 2022. It rated SBUX as “an Equal-weight”.

Price Performance Review of SBUX

On Friday, Starbucks Corporation [NASDAQ:SBUX] saw its stock fall -1.85% to $101.60. On the same session, the stock had its day’s lowest price of $100.82, but rose to a high of $102.72. Over the last five days, the stock has lost -5.52%. Starbucks Corporation shares have risen nearly 2.42% since the year began. Nevertheless, the stocks have risen 13.33% over the past one year. While a 52-week high of $110.83 was reached on 02/02/23, a 52-week low of $68.39 was recorded on 01/03/23. SMA at 50 days reached $104.46, while 200 days put it at $90.04. A total of 6.02 million shares were traded, compared to the trading of 6.86 million shares in the previous session.

Levels Of Support And Resistance For SBUX Stock

The 24-hour chart illustrates a support level at 100.71, which if violated will result in even more drops to 99.81. On the upside, there is a resistance level at 102.61. A further resistance level may holdings at 103.61. The Relative Strength Index (RSI) on the 14-day chart is 36.21, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.58%. Stochastics %K at 15.08% indicates the stock is a buying.

Starbucks Corporation [SBUX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 100,886,712 shares, or roughly 8.79% of the outstanding SBUX shares. In other words, the investor’s shares have risen by 1,692,811 from its previous 13-F filing of 99193901.0. Additionally, BlackRock Fund Advisors increased 2.95% of its stake after which the total value it holdings stand at $5,443,024,077, while SSgA Funds Management, Inc. reduced -2.03% of its stake to hold $4.8 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 795,790 shares of Starbucks Corporation, while Geode Capital Management LLC bought 487,878 shares. At present, Managed Account Advisors LLC is holding 19,036,850 shares valued at $2.08 billion. Northern Trust Investments, Inc. owned 14,283,586 shares of the company at the time of its most recent 13F filing, worth $1.56 billion.

According to FactSet, Starbucks Corporation’s share price will average $113.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.1 percent from its previous closing price of $103.51. Analysts expect Starbucks Corporation stock to reach the higher price of $138.00, while the lowest price estimate is $91.00. However, 33 analysts have rated SBUX stock as an Overweight in their predictions for 2023. The most recent change occurred on September 08, 2022 when Bernstein began covering the stock and recommended ‘”a Mkt perform”‘ rating along with a $94 price target.


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