Starbucks Corp – (SBUX, +1, September 19th)
Mellody Hobson (Chairman since 2021, joined 2005) purchased $5 million of stock at $92.58 on September 15th, increasing her holding by 8%. This is her first purchase in 9 years and by far the highest price she has paid. She is the Co-CEO & President of Ariel Investments, LLC, an investment management firm, and is also a director of JP Morgan Chase & Co where she has never made purchases of this size.
On the same day, Richard Allison (Non-Executive since 2019) made his first purchase of 10,000 shares at $92.53, spending $925,320 and increasing his holding by 73%. He is the former CEO of Domino’s Pizza and has never made a single purchase in the 11 years he worked there. These two large purchases are very encouraging, especially following the designation of a new CEO Laxman Narasimhan who will be officially appointed in April 2023.
We are ranking the stock +1.