Scotia Capital Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 8.4% during the 4th quarter, HoldingsChannel reports. The fund owned 679,943 shares of the coffee company’s stock after acquiring an additional 52,545 shares during the quarter. Scotia Capital Inc.’s holdings in Starbucks were worth $39,054,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of SBUX. Taylor Hoffman Wealth Management purchased a new position in Starbucks in the fourth quarter valued at approximately $107,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Starbucks in the third quarter valued at approximately $111,000. Gradient Investments LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $117,000. Front Row Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at approximately $136,000. Finally, Horan Capital Advisors LLC. purchased a new position in Starbucks in the third quarter valued at approximately $131,000. 73.52% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction 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 transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. 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 quarter, insiders sold 247,664 shares of company stock worth $14,243,602. 3.40% of the stock is currently owned by insiders.
NASDAQ:SBUX opened at $58.34 on Friday. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. 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 firm has a market capitalization of $83,127.18, a P/E ratio of 28.32, a PEG ratio of 1.64 and a beta of 0.64.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating 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 firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the firm posted $0.52 EPS. Starbucks’s quarterly revenue was up 5.9% on a year-over-year basis. analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
Several equities analysts have commented on the stock. Wedbush reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, January 19th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target (up from $66.00) on shares of Starbucks in a research note on Friday, January 19th. Barclays reiterated an “equal weight” rating and issued a $65.00 price target (up from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Finally, Goldman Sachs lowered shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $73.00 to $68.00 in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty have given a buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average 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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