Cardinal Capital Management Buys 561 Shares of Starbucks Co. (NASDAQ:SBUX)

Cardinal Capital Management grew its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,541 shares of the coffee company’s stock after buying an additional 561 shares during the quarter. Starbucks makes up 1.4% of Cardinal Capital Management’s holdings, making the stock its 25th biggest holding. Cardinal Capital Management’s holdings in Starbucks were worth $6,988,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quilter Plc bought a new stake in shares of Starbucks during the first quarter worth $208,530,000. America First Investment Advisors LLC bought a new stake in shares of Starbucks during the first quarter worth $25,000. Cranbrook Wealth Management LLC bought a new stake in shares of Starbucks during the first quarter worth $26,000. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks in the fourth quarter worth $26,000. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Starbucks in the first quarter worth $29,000. Institutional investors own 70.13% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the completion of the sale, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBUX. Bank of America boosted their price objective on shares of Starbucks from $131.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $104.00 price objective on shares of Starbucks in a research note on Wednesday, August 2nd. Barclays reduced their price objective on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 2nd. Stifel Nicolaus reduced their price objective on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on shares of Starbucks in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.76.

Starbucks Price Performance

SBUX opened at $96.76 on Tuesday. Starbucks Co. has a fifty-two week low of $82.43 and a fifty-two week high of $115.48. The firm has a market capitalization of $110.83 billion, a PE ratio of 29.50, a P/E/G ratio of 1.69 and a beta of 0.93. The company’s 50-day moving average is $99.19 and its 200 day moving average is $101.43.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, August 1st. The coffee company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same period in the prior year, the firm posted $0.84 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.45 EPS for the current year.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.