Traynor Capital Management Inc. boosted its position in Starbucks Corp. (NASDAQ:SBUX) by 14.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,650 shares of the coffee company’s stock after buying an additional 1,484 shares during the period. Traynor Capital Management Inc.’s holdings in Starbucks Corp. were worth $661,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Investment Centers of America Inc. boosted its stake in shares of Starbucks Corp. by 22.2% in the first quarter. Investment Centers of America Inc. now owns 54,084 shares of the coffee company’s stock worth $3,230,000 after buying an additional 9,835 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Starbucks Corp. by 981.6% in the first quarter. Glenmede Trust Co. NA now owns 1,193,313 shares of the coffee company’s stock worth $71,239,000 after buying an additional 1,082,983 shares during the period. Hills Bank & Trust Co. boosted its stake in shares of Starbucks Corp. by 111.1% in the first quarter. Hills Bank & Trust Co. now owns 12,191 shares of the coffee company’s stock worth $727,000 after buying an additional 6,415 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of Starbucks Corp. by 2.0% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,271 shares of the coffee company’s stock worth $315,000 after buying an additional 102 shares during the period. Finally, IMS Capital Management boosted its stake in shares of Starbucks Corp. by 3.3% in the first quarter. IMS Capital Management now owns 20,707 shares of the coffee company’s stock worth $1,236,000 after buying an additional 663 shares during the period. 68.13% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded up 1.29% on Friday, reaching $54.14. The company had a trading volume of 13,767,754 shares. The stock has a market capitalization of $79.40 billion, a P/E ratio of 30.42 and a beta of 0.80. The firm has a 50-day moving average of $55.13 and a 200-day moving average of $56.64. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations 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 expect that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price objective for the company in a research note on Monday, August 22nd. BTIG Research set a $64.00 price objective on Starbucks Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a research note on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price target on Starbucks Corp. and gave the company a “buy” rating in a research note on Tuesday, September 20th. Finally, Nomura reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $66.54.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Company insiders own 3.38% of the company’s stock.
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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