NEXT Financial Group Inc lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,055 shares of the coffee company’s stock after acquiring an additional 2,821 shares during the quarter. NEXT Financial Group Inc’s holdings in Starbucks were worth $1,499,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC purchased a new stake in Starbucks in the third quarter worth about $30,000. Sound Income Strategies LLC lifted its position in shares of Starbucks by 209.0% during the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock valued at $30,000 after buying an additional 232 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Starbucks by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock valued at $33,000 after buying an additional 14,069 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Starbucks by 246.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock valued at $36,000 after acquiring an additional 286 shares during the period. Finally, CenterStar Asset Management LLC bought a new position in shares of Starbucks during the 3rd quarter valued at approximately $39,000. 69.97% of the stock is owned by hedge funds and other institutional investors.
Shares of SBUX stock opened at $92.53 on Wednesday. The company’s fifty day simple moving average is $88.83 and its two-hundred day simple moving average is $89.32. Starbucks Co. has a 52 week low of $62.93 and a 52 week high of $99.72. The stock has a market cap of $110.57 billion, a P/E ratio of 31.58, a PEG ratio of 2.36 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.05 EPS for the current fiscal year.
SBUX has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating on shares of Starbucks in a research note on Thursday, October 31st. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $93.00 price target for the company. in a research report on Monday, January 6th. Weeden reiterated a “neutral” rating on shares of Starbucks in a research report on Friday, November 1st. Barclays raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 price objective for the company in a research note on Thursday, January 9th. Finally, Royal Bank of Canada began coverage on shares of Starbucks in a research report on Monday, December 9th. They set an “outperform” rating and a $97.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $92.35.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $86.47, for a total value of $172,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total transaction of $374,686.24. The disclosure for this sale can be found here. Insiders have sold a total of 35,207 shares of company stock valued at $3,072,954 in the last 90 days. 3.98% of the stock is currently owned by company insiders.
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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