Bbva Compass Bancshares Inc. decreased its position in Starbucks Corp. (NASDAQ:SBUX) by 10.7% during the second quarter, Holdings Channel reports. The firm owned 37,817 shares of the coffee company’s stock after selling 4,530 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Starbucks Corp. were worth $2,160,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Starbucks Corp. during the second quarter worth $123,000. Proficio Capital Partners LLC increased its stake in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the period. Kistler Tiffany Companies LLC increased its stake 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. Community Bank N.A. increased its stake 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, Maryland Capital Management purchased a new stake in Starbucks Corp. during the first quarter worth $201,000. 68.39% of the stock is owned by institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.66% on Monday, reaching $52.73. The company’s stock had a trading volume of 3,579,622 shares. The firm’s 50-day moving average price is $54.38 and its 200-day moving average price is $56.24. The stock has a market cap of $77.33 billion, a price-to-earnings ratio of 29.62 and a beta of 0.83. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The company earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. On average, equities analysts expect that Starbucks Corp. will post $1.89 earnings per share for the current year.
SBUX has been the subject of a number of recent research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $69.00 price target (down from $73.00) on shares of Starbucks Corp. in a research note on Wednesday, July 20th. Cowen and Company reissued a “buy” rating on shares of Starbucks Corp. in a report on Monday, July 18th. Nomura reissued a “buy” rating on shares of Starbucks Corp. in a report on Tuesday, July 12th. Royal Bank Of Canada reissued a “buy” rating on shares of Starbucks Corp. in a report on Tuesday, July 12th. Finally, Vetr lowered Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 price objective on the stock. in a report on Monday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.39.
In related 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 transaction of $742,789.80. Following the completion of the transaction, the director now directly 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 can be accessed through the SEC website. 3.38% of the stock is owned by 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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