Daiwa Securities Group Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,063 shares of the coffee company’s stock after purchasing an additional 12,587 shares during the period. Daiwa Securities Group Inc.’s holdings in Starbucks were worth $4,311,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in Starbucks during the 2nd quarter worth $201,000. Summit Global Investments acquired a new position in Starbucks during the 2nd quarter worth $614,000. Stephens Inc. AR lifted its position in Starbucks by 13.5% during the 2nd quarter. Stephens Inc. AR now owns 121,246 shares of the coffee company’s stock worth $7,070,000 after acquiring an additional 14,380 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Starbucks during the 2nd quarter worth $199,000. Finally, Raymond James Trust N.A. lifted its position in Starbucks by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 25,927 shares of the coffee company’s stock worth $1,512,000 after acquiring an additional 481 shares during the last quarter. 73.52% of the stock is owned by institutional investors and hedge funds.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 26,500 shares in the company, valued at $1,592,650. The disclosure for this sale can be found here. Insiders have sold 247,664 shares of company stock worth $14,243,602 over the last ninety days. Insiders own 3.40% of the company’s stock.
SBUX has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer reissued a “buy” rating and set a $66.00 target price on shares of Starbucks in a research report on Friday, January 19th. Wedbush reissued a “buy” rating and set a $70.00 target price on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective (up previously from $66.00) on shares of Starbucks in a report on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. 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 company has an average rating of “Buy” and an average price target of $64.05.
NASDAQ SBUX traded down $0.80 on Friday, reaching $58.34. The company’s stock had a trading volume of 8,264,473 shares, compared to its average volume of 8,736,918. The stock has a market cap of $82,002.70, a P/E ratio of 28.32, a PEG ratio of 1.62 and a beta of 0.64. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87. 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 (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. research analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current year.
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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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