Intellectus Partners LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 31.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,996 shares of the coffee company’s stock after selling 5,863 shares during the quarter. Intellectus Partners LLC’s holdings in Starbucks were worth $1,149,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Abbrea Capital LLC boosted its holdings in Starbucks by 1.9% during the 2nd quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock valued at $463,000 after acquiring an additional 105 shares during the period. Gamco Investors INC. ET AL boosted its stake in Starbucks by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock valued at $3,219,000 after purchasing an additional 115 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock valued at $2,528,000 after purchasing an additional 120 shares in the last quarter. D.B. Root & Company LLC boosted its stake in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock valued at $1,251,000 after purchasing an additional 122 shares in the last quarter. Finally, Enterprise Bank & Trust Co boosted its stake in Starbucks by 4.8% during the 3rd quarter. Enterprise Bank & Trust Co now owns 2,725 shares of the coffee company’s stock valued at $241,000 after purchasing an additional 125 shares in the last quarter. 70.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ SBUX traded up $1.22 during trading on Friday, reaching $87.18. The company had a trading volume of 1,371,215 shares, compared to its average volume of 6,473,095. The stock has a market capitalization of $101.64 billion, a PE ratio of 36.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.53. The stock has a 50-day moving average price of $91.55 and a two-hundred day moving average price of $85.17. Starbucks Co. has a twelve month low of $54.71 and a twelve month high of $99.72.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 2.83 EPS for the current fiscal year.
In other news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $88.63, for a total value of $883,906.99. Following the completion of the sale, the director now owns 28,407 shares in the company, valued at $2,517,712.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jill Walker sold 6,492 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 142,767 shares of company stock worth $13,730,357. 3.98% of the stock is owned by insiders.
Several brokerages have recently issued reports on SBUX. BMO Capital Markets raised their price target on Starbucks to $84.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. OTR Global raised shares of Starbucks to a “positive” rating in a report on Tuesday, July 16th. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Tuesday, June 18th. KeyCorp lifted their target price on shares of Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, BidaskClub lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Starbucks currently has a consensus rating of “Hold” and a consensus price target of $90.10.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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