Nisa Investment Advisors LLC boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 9.4% during the second quarter, Holdings Channel reports. The firm owned 468,016 shares of the coffee company’s stock after buying an additional 40,324 shares during the period. Nisa Investment Advisors LLC’s holdings in Starbucks Corporation were worth $27,562,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Guggenheim Capital LLC increased its stake in shares of Starbucks Corporation by 17.8% in the fourth quarter. Guggenheim Capital LLC now owns 1,463,722 shares of the coffee company’s stock worth $81,266,000 after buying an additional 221,606 shares during the period. AQR Capital Management LLC increased its stake in shares of Starbucks Corporation by 28.8% in the fourth quarter. AQR Capital Management LLC now owns 615,570 shares of the coffee company’s stock worth $34,176,000 after buying an additional 137,659 shares during the period. HCR Wealth Advisors purchased a new stake in shares of Starbucks Corporation during the fourth quarter worth about $3,221,000. Congress Asset Management Co. MA purchased a new stake in shares of Starbucks Corporation during the fourth quarter worth about $12,042,000. Finally, Capital International Inc. CA increased its stake in shares of Starbucks Corporation by 69.8% in the fourth quarter. Capital International Inc. CA now owns 139,565 shares of the coffee company’s stock worth $7,749,000 after buying an additional 57,350 shares during the period. 69.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 57.94 on Thursday. The firm has a market capitalization of $83.90 billion, a PE ratio of 28.65 and a beta of 0.82. The firm’s 50 day moving average is $59.24 and its 200-day moving average is $58.56. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. Starbucks Corporation’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, analysts expect that Starbucks Corporation will post $2.10 EPS for the current fiscal year.
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SBUX has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “buy” rating and set a $62.00 price target on shares of Starbucks Corporation in a report on Tuesday, April 4th. Deutsche Bank AG reissued a “hold” rating and set a $59.00 price target on shares of Starbucks Corporation in a report on Tuesday, April 11th. Vetr raised shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.50 price target on the stock in a report on Wednesday, April 12th. Cowen and Company reissued an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a report on Monday, April 17th. Finally, Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have given a buy rating and three have given a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $65.48.
In related news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the transaction, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,826 shares of company stock worth $8,642,454. 3.40% of the stock is owned by corporate insiders.
About Starbucks Corporation
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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