Fri Sep 20 06:35:20 UTC 2024: ## Starbucks Stock Rises After Insider Purchase, Analysts Remain Divided

**Seattle, WA – September 20, 2024** – Starbucks (NASDAQ:SBUX) stock experienced a 0.6% surge on Wednesday following news of an insider purchase. Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock on September 6th, totaling $34,770. This transaction brought his total ownership to 36,242 shares, valued at approximately $3,316,143.

The stock traded as high as $97.35 on Wednesday before closing at $97.04, slightly up from the previous day’s close of $96.44. Trading volume was lower than average, with only 2,095,413 shares changing hands compared to the typical 11,873,521.

While the insider purchase boosted sentiment, analyst opinions on Starbucks remain mixed. While some remain bullish, with Bank of America increasing their target price to $118.00 and BMO Capital Markets raising their target to $110.00, others are more cautious. JPMorgan Chase & Co. decreased their price target to $90.00 and Wedbush maintained a “neutral” rating with a $80.00 price target.

Overall, analysts have a “Moderate Buy” rating on Starbucks, with a consensus price target of $100.08. Institutional investors continue to show interest, with several firms increasing their holdings in the company’s stock in recent quarters.

Starbucks reported its quarterly earnings on July 30th, meeting analyst expectations with $0.93 EPS. However, revenue was slightly lower than anticipated, and the company reported a negative return on equity.

Despite the mixed signals, Starbucks remains a significant player in the global coffee market. The company’s performance will continue to be closely watched as it navigates a dynamic industry landscape.

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