Rice Hall James & Associates LLC decreased its position in Starbucks Corp. (NASDAQ:SBUX) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,190 shares of the coffee company’s stock after selling 100 shares during the period. Rice Hall James & Associates LLC’s holdings in Starbucks Corp. were worth $239,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of Starbucks Corp. during the second quarter worth $123,000. Kistler Tiffany Companies LLC raised its position in shares of Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares during the period. Dubuque Bank & Trust Co. raised its position in shares of Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock valued at $176,000 after buying an additional 262 shares during the period. Community Bank N.A. raised its position in shares of Starbucks Corp. by 4.6% in the second quarter. Community Bank N.A. now owns 3,383 shares of the coffee company’s stock valued at $193,000 after buying an additional 150 shares during the period. Finally, Maryland Capital Management purchased a new position in shares of Starbucks Corp. during the first quarter valued at approximately $201,000. 68.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.71% during trading on Tuesday, hitting $52.92. The stock had a trading volume of 9,649,961 shares. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The firm has a market cap of $77.61 billion, a P/E ratio of 29.73 and a beta of 0.83. The firm has a 50 day moving average price of $54.79 and a 200 day moving average price of $56.35.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, equities analysts expect that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
SBUX has been the topic of several recent research reports. Robert W. Baird reiterated an “outperform” rating on shares of Starbucks Corp. in a research report on Thursday, September 8th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $69.00 price objective on shares of Starbucks Corp. in a research report on Friday, September 23rd. Zacks Investment Research lowered Starbucks Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Wedbush reduced their price objective on Starbucks Corp. from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 28th. Finally, BTIG Research set a $64.00 price objective on Starbucks Corp. and gave the company a “buy” rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corp. presently has an average rating of “Buy” and an average target price of $66.54.
In other 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 completion of the sale, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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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