Starbucks stock bought up by traders amid activist investor reports

Starbucks (NASDAQ:SBUX) had some pep in its step, with its stock trading on the front foot through Monday morning with the market’s attention on activist investor activity.

On Friday, it emerged that Starboard Value, an activist hedge fund, had acquired a stake albeit the precise details have yet to be confirmed.

Meanwhile, reports today claimed that the coffee chain’s management team was talking with Elliott Management, another ‘activist’ that’s built and is leveraging a stake.

Elliott has, according to reports, pushed for changes to the board and governance and has heaped pressure to perform, amidst recent commercial struggles.

In July, Starbuck reported the negative impact of slowing same-store sales in both the US and China.

The financial media reports, whilst citing sources familiar with the matter, did not receive comment from Starbucks or Elliott.

Investors and traders, meanwhile, bought the coffee shares up during Monday’s deal.

In New York, Starbucks shares were up 3.25% changing hands at $77.53.