CS Mckee LP cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,330 shares of the coffee company’s stock after selling 4,200 shares during the period. CS Mckee LP’s holdings in Starbucks were worth $15,410,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Argus Investors Counsel Inc. raised its holdings in shares of Starbucks by 1.2% during the 4th quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock worth $4,159,000 after acquiring an additional 866 shares in the last quarter. NEXT Financial Group Inc raised its holdings in shares of Starbucks by 11.5% during the 3rd quarter. NEXT Financial Group Inc now owns 8,853 shares of the coffee company’s stock worth $493,000 after acquiring an additional 910 shares in the last quarter. MAI Capital Management raised its holdings in shares of Starbucks by 4.5% during the 4th quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after acquiring an additional 912 shares in the last quarter. V Wealth Management LLC raised its holdings in shares of Starbucks by 8.6% during the 4th quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock worth $680,000 after acquiring an additional 914 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its holdings in shares of Starbucks by 6.6% during the 3rd quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock worth $834,000 after acquiring an additional 960 shares in the last quarter. 73.47% of the stock is currently owned by institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the transaction, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the company’s 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 completion of the transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Insiders sold a total of 247,664 shares of company stock worth $14,243,602 in the last ninety days. 3.48% of the stock is currently owned by corporate insiders.
Shares of Starbucks stock opened at $59.43 on Tuesday. The firm has a market capitalization of $83,267.74, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. Starbucks’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 EPS. equities analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.
Several brokerages have recently issued reports on SBUX. Goldman Sachs cut Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the stock from $73.00 to $68.00 in a report on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Starbucks in a report on Friday, January 26th. Vetr raised Starbucks from a “buy” rating to a “strong-buy” rating and set a $62.03 price objective on the stock in a report on Monday, February 5th. Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Finally, BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a report on Friday, March 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and an average target price of $64.17.
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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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