Strategic Capital Advisers Inc. purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,886 shares of the coffee company’s stock, valued at approximately $2,463,000. Starbucks comprises about 2.4% of Strategic Capital Advisers Inc.’s holdings, making the stock its 13th largest holding.
Several other large investors also recently modified their holdings of SBUX. Rainier Group Investment Advisory LLC increased its holdings in shares of Starbucks by 9.5% in the 2nd quarter. Rainier Group Investment Advisory LLC now owns 9,274 shares of the coffee company’s stock worth $541,000 after buying an additional 804 shares during the last quarter. Balentine LLC grew its holdings in shares of Starbucks by 4.2% during the 2nd 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. grew its holdings in shares of Starbucks by 4.8% during the 2nd 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 bought a new position in shares of Starbucks during the 2nd quarter valued at $816,000. Finally, Highland Private Wealth Management grew its holdings in shares of Starbucks by 16.9% during the 2nd 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. 73.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. In the last three months, insiders sold 247,664 shares of company stock worth $14,243,602. Insiders own 3.40% of the company’s stock.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. research analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
SBUX has been the topic of several recent research reports. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $62.03 target price on the stock in a report on Monday, January 29th. Mizuho lowered shares of Starbucks from a “buy” rating to a “neutral” rating and increased their target price for the company from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial initiated coverage on shares of Starbucks in a report on Wednesday, December 27th. They set a “buy” rating on the stock. Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and set a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. 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. The stock presently has a consensus rating of “Buy” and an average price target of $64.05.
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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