Douglass Winthrop Advisors LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 120.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,148 shares of the coffee company’s stock after buying an additional 26,819 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Starbucks were worth $2,870,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in SBUX. Baltimore Washington Financial Advisors Inc. bought a new stake in Starbucks during the fourth quarter valued at approximately $16,059,000. Fusion Family Wealth LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $123,000. Cascade Investment Advisors Inc. bought a new stake in Starbucks during the fourth quarter valued at approximately $131,000. Stanford Investment Group Inc. raised its stake in Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock valued at $143,000 after buying an additional 8 shares in the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock valued at $143,000 after buying an additional 1,715 shares in the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at 60.08 on Friday. The firm has a market capitalization of $87.56 billion, a P/E ratio of 30.81 and a beta of 0.79. Starbucks Co. has a 12 month low of $50.84 and a 12 month high of $60.34. The company’s 50 day moving average price is $56.93 and its 200-day moving average price is $56.20.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The business earned $5.70 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Starbucks Co. will post $2.13 earnings per share for the current fiscal year.
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SBUX has been the topic of a number of recent analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $62.00 target price on shares of Starbucks in a research report on Tuesday, April 4th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $65.00 target price on shares of Starbucks in a research report on Thursday. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.50 target price on the stock. in a research report on Tuesday. Piper Jaffray Companies set a $64.00 target price on Starbucks and gave the company a “buy” rating in a research report on Saturday, January 28th. Finally, Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.30.
In other news, Director Joshua Cooper Ramo sold 5,868 shares of the stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total value of $324,089.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is currently owned by company insiders.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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