Conning Inc. boosted its position in Starbucks Corp. (NASDAQ:SBUX) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 55,376 shares of the coffee company’s stock after buying an additional 550 shares during the period. Conning Inc.’s holdings in Starbucks Corp. were worth $3,163,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the stock. WESPAC Advisors LLC boosted its stake in Starbucks Corp. by 14.4% in the second quarter. WESPAC Advisors LLC now owns 16,974 shares of the coffee company’s stock worth $970,000 after buying an additional 2,143 shares in the last quarter. Narwhal Capital Management bought a new stake in Starbucks Corp. during the second quarter worth about $279,000. PGGM Investments boosted its stake in Starbucks Corp. by 1.3% in the second quarter. PGGM Investments now owns 553,792 shares of the coffee company’s stock worth $31,633,000 after buying an additional 7,191 shares in the last quarter. Genesee Valley Trust Co. boosted its stake in Starbucks Corp. by 2.1% in the second quarter. Genesee Valley Trust Co. now owns 33,485 shares of the coffee company’s stock worth $1,913,000 after buying an additional 696 shares in the last quarter. Finally, Valicenti Advisory Services Inc. boosted its stake in Starbucks Corp. by 28.4% in the second quarter. Valicenti Advisory Services Inc. now owns 78,765 shares of the coffee company’s stock worth $4,499,000 after buying an additional 17,405 shares in the last quarter. 68.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.39% during trading on Wednesday, hitting $53.98. The stock had a trading volume of 8,593,496 shares. The company has a market cap of $79.17 billion, a P/E ratio of 30.33 and a beta of 0.80. The stock’s 50-day moving average price is $55.23 and its 200-day moving average price is $56.70. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. On average, equities research analysts forecast that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on SBUX shares. Stifel Nicolaus reissued a “hold” rating on shares of Starbucks Corp. in a research note on Monday, June 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a research note on Monday, June 13th. Wedbush reissued an “outperform” rating and issued a $70.00 price target on shares of Starbucks Corp. in a research note on Tuesday, June 14th. Zacks Investment Research cut shares of Starbucks Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Finally, Robert W. Baird reissued an “outperform” rating on shares of Starbucks Corp. in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $66.36.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the sale, the director now owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.38% of the stock is owned by corporate insiders.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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