Osterweis Capital Management Inc. Acquires New Holdings in Starbucks Co. (SBUX)

Osterweis Capital Management Inc. acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 316,210 shares of the coffee company’s stock, valued at approximately $18,160,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rainier Group Investment Advisory LLC lifted its holdings in shares of Starbucks by 9.5% during the second quarter. Rainier Group Investment Advisory LLC now owns 9,274 shares of the coffee company’s stock valued at $541,000 after purchasing an additional 804 shares during the last quarter. Balentine LLC lifted its holdings in shares of Starbucks by 4.2% during the second quarter. Balentine LLC now owns 2,725 shares of the coffee company’s stock valued at $159,000 after purchasing an additional 110 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Starbucks by 4.8% during the second quarter. Coldstream Capital Management Inc. now owns 205,569 shares of the coffee company’s stock valued at $11,987,000 after purchasing an additional 9,361 shares during the last quarter. Osher Van de Voorde Investment Management purchased a new position in shares of Starbucks during the second quarter valued at approximately $816,000. Finally, Highland Private Wealth Management lifted its holdings in shares of Starbucks by 16.9% during the second quarter. Highland Private Wealth Management now owns 21,319 shares of the coffee company’s stock valued at $1,243,000 after purchasing an additional 3,080 shares during the last quarter. Institutional investors and hedge funds own 73.52% of the company’s stock.

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Several research firms have recently issued reports on SBUX. Wedbush lowered shares of Starbucks from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $70.00 to $56.00 in a report on Thursday, March 29th. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price target for the company in a research report on Tuesday, April 3rd. Deutsche Bank reissued a “buy” rating and set a $63.00 price target on shares of Starbucks in a research report on Friday, January 26th. Oppenheimer reissued a “buy” rating and set a $66.00 price target on shares of Starbucks in a research report on Friday, January 26th. Finally, Tigress Financial reissued a “buy” rating on shares of Starbucks in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the company. Starbucks presently has a consensus rating of “Buy” and a consensus target price of $64.05.

In other Starbucks news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the sale, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $1,592,650. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,664 shares of company stock valued at $14,243,602. 3.40% of the stock is currently owned by insiders.

NASDAQ:SBUX opened at $58.34 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a market capitalization of $82,002.70, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.62 and a beta of 0.64.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.

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Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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