Northwest Capital Management Inc purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,453 shares of the coffee company’s stock, valued at approximately $256,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Reynders McVeigh Capital Management LLC lifted its position in shares of Starbucks by 6.4% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 100,566 shares of the coffee company’s stock worth $5,776,000 after purchasing an additional 6,005 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Starbucks by 6.7% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,744,353 shares of the coffee company’s stock worth $272,468,000 after purchasing an additional 297,130 shares in the last quarter. Hedeker Wealth LLC lifted its position in shares of Starbucks by 6.8% during the fourth quarter. Hedeker Wealth LLC now owns 24,694 shares of the coffee company’s stock worth $1,418,000 after purchasing an additional 1,576 shares in the last quarter. Bank of The West lifted its position in shares of Starbucks by 5.7% during the fourth quarter. Bank of The West now owns 88,548 shares of the coffee company’s stock worth $5,086,000 after purchasing an additional 4,746 shares in the last quarter. Finally, Aries Wealth Management acquired a new stake in shares of Starbucks during the fourth quarter worth about $323,000. 73.52% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,664 shares of company stock worth $14,243,602. Insiders own 3.40% of the company’s stock.
Shares of SBUX opened at $58.34 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. The company has a market cap of $82,691.45, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.63 and a beta of 0.64. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its 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 for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current year.
Several analysts have recently issued reports on the stock. Wedbush cut shares of Starbucks from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $70.00 to $56.00 in a research report on Thursday, March 29th. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 target price on the stock in a report on Tuesday. Deutsche Bank reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, January 26th. Oppenheimer reaffirmed a “buy” rating and issued a $66.00 target price on shares of Starbucks in a report on Friday, January 26th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $64.05.
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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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