Cardinal Capital Management Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

Cardinal Capital Management boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,631 shares of the coffee company’s stock after acquiring an additional 1,487 shares during the period. Starbucks accounts for approximately 1.2% of Cardinal Capital Management’s investment portfolio, making the stock its 27th biggest position. Cardinal Capital Management’s holdings in Starbucks were worth $7,631,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in Starbucks by 1.0% in the third quarter. State Street Corp now owns 45,974,407 shares of the coffee company’s stock valued at $4,482,045,000 after acquiring an additional 437,218 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Starbucks by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 24,277,756 shares of the coffee company’s stock worth $2,358,464,000 after purchasing an additional 333,004 shares during the last quarter. FMR LLC raised its holdings in Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the period. Wellington Management Group LLP lifted its position in Starbucks by 100.6% in the third quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock valued at $1,476,967,000 after buying an additional 7,598,146 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group raised their price target on shares of Starbucks from $98.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $115.00 target price on shares of Starbucks in a report on Friday, January 24th. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by company insiders.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.55 on Tuesday. The firm’s 50-day moving average is $98.28 and its two-hundred day moving average is $96.14. The company has a market capitalization of $127.85 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $113.47.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company earned $0.90 EPS. On average, analysts forecast that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.