Sun Sep 15 15:50:58 UTC 2024: ## Starbucks Stock Sees Mixed Activity: Hedge Funds Adjust Holdings, Insider Sales Occur

**Seattle, WA – September 15, 2024** – Starbucks (NASDAQ: SBUX) stock witnessed a mix of activity in the second quarter, with hedge funds adjusting their positions and insiders selling shares. GHP Investment Advisors Inc. reduced its stake in the coffee giant by 6.9%, while several other funds, including Scarborough Advisors LLC, Vima LLC, DSM Capital Partners LLC, Fairman Group LLC, and Raleigh Capital Management Inc., bought or increased their holdings.

Meanwhile, Starbucks CEO Michael Aaron Conway sold 3,250 shares of the company’s stock on August 15th, while CEO Rachel Ruggeri sold 3,290 shares on August 13th. Insider ownership in the company sits at 1.98%.

Starbucks recently reported its quarterly earnings, meeting analysts’ expectations with $0.93 earnings per share. However, revenue fell slightly compared to the previous year.

The company’s stock has drawn mixed opinions from analysts. Jefferies Financial Group downgraded its rating to “hold,” while Barclays upgraded its rating to “overweight.” Overall, the stock currently holds a “Moderate Buy” rating with an average target price of $99.83.

Starbucks Corporation continues to operate as a global leader in the coffee industry, offering a wide range of beverages and food products. The company’s performance will be closely watched as it navigates the dynamic global market.

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