Chase Investment Counsel Corp boosted its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,614 shares of the coffee company’s stock after buying an additional 120 shares during the period. Chase Investment Counsel Corp’s holdings in Starbucks Corp. were worth $3,119,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC increased its position in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock worth $146,000 after buying an additional 1,484 shares during the period. Dubuque Bank & Trust Co. increased its position in Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock worth $176,000 after buying an additional 262 shares during the period. Maryland Capital Management bought a new position in Starbucks Corp. during the first quarter worth approximately $201,000. Community Bank N.A. increased its position in Starbucks Corp. by 4.6% in the second quarter. Community Bank N.A. now owns 3,383 shares of the coffee company’s stock worth $193,000 after buying an additional 150 shares during the period. Finally, Parametric Risk Advisors LLC bought a new position in Starbucks Corp. during the first quarter worth approximately $213,000. 68.13% of the stock is owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded up 1.29% on Friday, hitting $54.14. The stock had a trading volume of 13,767,754 shares. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00. The company has a market capitalization of $79.40 billion, a price-to-earnings 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. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. On average, analysts predict that Starbucks Corp. will post $1.89 earnings per share for the current year.
A number of research analysts recently commented on the company. Goldman Sachs Group Inc. raised Starbucks Corp. from a “buy” rating to a “conviction-buy” rating and set a $69.00 price target for the company in a research note on Tuesday, July 26th. Stifel Nicolaus reiterated a “hold” rating on shares of Starbucks Corp. in a research report on Sunday, July 24th. Deutsche Bank AG set a $64.00 target price on Starbucks Corp. and gave the company a “hold” rating in a research report on Sunday, July 24th. Nomura reiterated a “buy” rating and issued a $70.00 target price on shares of Starbucks Corp. in a research report on Monday, July 25th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $68.00 target price on shares of Starbucks Corp. in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. presently has an average rating of “Buy” and a consensus price target of $66.54.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. 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 completion of the transaction, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.38% of the company’s stock.
About Starbucks Corp.
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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