M Holdings Securities Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,562 shares of the coffee company’s stock, valued at approximately $1,231,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in shares of Starbucks during the 2nd quarter worth about $1,062,000. RNC Capital Management LLC boosted its holdings in shares of Starbucks by 0.7% during the 2nd quarter. RNC Capital Management LLC now owns 18,259 shares of the coffee company’s stock worth $1,065,000 after buying an additional 134 shares during the period. Farmers National Bank bought a new stake in shares of Starbucks during the 2nd quarter worth about $269,000. Lord Abbett & CO. LLC bought a new stake in shares of Starbucks during the 2nd quarter worth about $35,784,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of Starbucks during the 2nd quarter worth about $235,000. Institutional investors own 73.52% of the company’s stock.
SBUX has been the subject of several research analyst reports. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price for the company. in a report on Monday, January 8th. Tigress Financial initiated coverage on shares of Starbucks in a report on Wednesday, December 27th. They set a “buy” rating for the company. Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $73.00 to $68.00 in a report on Friday, January 26th. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. Finally, Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.17.
In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 247,664 shares of company stock valued at $14,243,602. 3.40% of the stock is owned by corporate insiders.
Shares of Starbucks stock opened at $59.24 on Friday. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The company has a market cap of $83,520.75, a PE ratio of 28.76, a PEG ratio of 1.65 and a beta of 0.64.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. research analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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