Sheaff Brock Investment Advisors LLC increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,640 shares of the coffee company’s stock after purchasing an additional 360 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Starbucks were worth $1,648,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Abbrea Capital LLC increased its holdings in shares of Starbucks by 1.9% during the second quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock worth $463,000 after buying an additional 105 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Starbucks by 0.3% during the second quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock worth $3,219,000 after buying an additional 115 shares in the last quarter. Duncker Streett & Co. Inc. increased its holdings in shares of Starbucks by 0.4% during the second quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after buying an additional 120 shares in the last quarter. D.B. Root & Company LLC increased its holdings in shares of Starbucks by 0.8% during the second quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after buying an additional 122 shares in the last quarter. Finally, Enterprise Bank & Trust Co increased its holdings in shares of Starbucks by 4.8% during the third quarter. Enterprise Bank & Trust Co now owns 2,725 shares of the coffee company’s stock worth $241,000 after buying an additional 125 shares in the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $88.63, for a total value of $883,906.99. Following the transaction, the director now directly owns 28,407 shares of the company’s stock, valued at $2,517,712.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total transaction of $621,284.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,377 shares of company stock worth $11,430,652. Insiders own 3.98% of the company’s stock.
Several research firms have recently weighed in on SBUX. Cleveland Research reaffirmed a “hold” rating on shares of Starbucks in a report on Tuesday, September 10th. BTIG Research reaffirmed a “hold” rating on shares of Starbucks in a report on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Goldman Sachs Group began coverage on shares of Starbucks in a research note on Monday, July 29th. They set a “buy” rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.76.
SBUX stock traded up $0.39 during midday trading on Monday, reaching $83.77. The company’s stock had a trading volume of 413,680 shares, compared to its average volume of 5,581,209. Starbucks Co. has a 52 week low of $57.39 and a 52 week high of $99.72. The stock has a market cap of $99.57 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53. The business’s 50-day simple moving average is $88.32 and its 200-day simple moving average is $86.05.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts predict that Starbucks Co. will post 2.83 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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