Envestnet Asset Management Inc. grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 926,409 shares of the coffee company’s stock after purchasing an additional 65,357 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Starbucks worth $53,204,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Taylor Hoffman Wealth Management bought a new position in Starbucks during the 4th quarter worth approximately $107,000. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks during the 3rd quarter worth approximately $111,000. Prime Capital Investment Advisors LLC bought a new position in Starbucks during the 4th quarter worth approximately $113,000. Gradient Investments LLC bought a new position in Starbucks during the 4th quarter worth approximately $117,000. Finally, Horan Capital Advisors LLC. bought a new position in Starbucks during the 3rd quarter worth approximately $131,000. Hedge funds and other institutional investors own 73.47% of the company’s stock.
Several equities analysts recently issued reports on SBUX shares. Vetr upgraded Starbucks from a “hold” rating to a “buy” rating and set a $62.03 price target on the stock in a research report on Monday, January 29th. Mizuho lowered Starbucks from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $75.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial initiated coverage on Starbucks in a research report on Wednesday, December 27th. They issued a “buy” rating on the stock. Wedbush reiterated a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Oppenheimer reiterated a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.17.
In other Starbucks news, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction on 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 completion of the transaction, the director now owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders have sold 247,664 shares of company stock valued at $14,243,602 in the last quarter. 3.48% of the stock is owned by company insiders.
SBUX opened at $59.50 on Thursday. The company has a market capitalization of $83,534.80, a PE ratio of 28.88, a PEG ratio of 1.65 and a beta of 0.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. research analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
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Starbucks Company Profile
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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