Stone Ridge Asset Management LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,487 shares of the coffee company’s stock, valued at approximately $1,062,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Taylor Hoffman Wealth Management acquired a new stake in Starbucks during the 4th quarter worth approximately $107,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Starbucks during the 3rd quarter worth approximately $111,000. Prime Capital Investment Advisors LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $113,000. Gradient Investments LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $117,000. Finally, Horan Capital Advisors LLC. acquired a new stake in Starbucks during the 3rd quarter worth approximately $131,000. 73.47% of the stock is owned by institutional investors.
Several brokerages have issued reports on SBUX. Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the company from $73.00 to $68.00 in a research report on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Starbucks in a research report on Friday, January 26th. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $62.03 price objective for the company in a research report on Monday, February 5th. Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a research report on Tuesday, January 2nd. Finally, BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, March 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $64.17.
Shares of SBUX opened at $59.50 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm has a market cap of $84,097.05, a P/E ratio of 28.88, a PEG ratio of 1.66 and a beta of 0.64. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. analysts predict that Starbucks Co. will post 2.49 EPS for the current fiscal year.
In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the sale, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock worth $14,243,602 over the last quarter. 3.40% of the stock is currently owned by company insiders.
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Starbucks Company Profile
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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