Ariel Capital Advisors LLC increased its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 48,520 shares of the coffee company’s stock after buying an additional 680 shares during the period. Starbucks Corp. accounts for 1.7% of Ariel Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position. Ariel Capital Advisors LLC’s holdings in Starbucks Corp. were worth $2,772,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in SBUX. Bank of Montreal Can acquired a new stake in Starbucks Corp. during the second quarter valued at $204,254,000. Glenmede Trust Co. NA boosted its stake in 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 valued at $71,239,000 after buying an additional 1,082,983 shares during the last quarter. Geode Capital Management LLC boosted its stake in Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock valued at $798,832,000 after buying an additional 829,990 shares during the last quarter. Samlyn Capital LLC acquired a new stake in Starbucks Corp. during the first quarter valued at $48,760,000. Finally, Svenska Handelsbanken AB publ acquired a new stake in Starbucks Corp. during the second quarter valued at $46,145,000. Institutional investors and hedge funds own 68.13% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.55% during midday trading on Monday, hitting $53.84. The stock had a trading volume of 5,479,037 shares. The company’s 50-day moving average price is $55.12 and its 200 day moving average price is $56.60. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The stock has a market cap of $78.96 billion, a P/E ratio of 30.25 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last issued its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business earned $5.20 billion during 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 predict that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
A number of brokerages have weighed in on SBUX. Deutsche Bank AG set a $64.00 price objective on Starbucks Corp. and gave the company a “hold” rating in a research note on Sunday, July 24th. Vetr cut Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 price objective for the company. in a research note on Monday, July 11th. Cowen and Company reiterated a “buy” rating on shares of Starbucks Corp. in a research note on Monday, July 18th. Piper Jaffray Cos. reiterated an “outperform” rating and issued a $72.00 price objective on shares of Starbucks Corp. in a research note on Friday, July 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $70.00 price objective on shares of Starbucks Corp. in a research note on Tuesday, August 2nd. One equities 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 issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $66.54.
In other news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.38% of the stock is owned by insiders.
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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