Reilly Financial Advisors LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% during the third quarter, HoldingsChannel reports. The firm owned 16,358 shares of the coffee company’s stock after selling 1,392 shares during the quarter. Reilly Financial Advisors LLC’s holdings in Starbucks were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Polaris Greystone Financial Group LLC acquired a new stake in shares of Starbucks in the third quarter worth $107,000. Archford Capital Strategies LLC increased its stake in shares of Starbucks by 669.7% in the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after acquiring an additional 1,902 shares during the period. Fort L.P. acquired a new stake in Starbucks during the second quarter valued at $112,000. Point72 Hong Kong Ltd acquired a new stake in Starbucks during the second quarter valued at $115,000. Finally, RPg Family Wealth Advisory LLC grew its position in Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after buying an additional 1,673 shares during the period. Institutional investors and hedge funds own 72.02% of the company’s stock.
SBUX opened at $58.66 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 1.60 and a beta of 0.60. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $61.94.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.25 billion. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.4 earnings per share for the current fiscal year.
SBUX has been the topic of several analyst reports. Wedbush dropped their price target on shares of Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Bank of America raised their price target on shares of Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Finally, KeyCorp initiated coverage on shares of Starbucks in a research report on Wednesday, October 3rd. They set an “overweight” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.48.
In related news, insider Rosalind G. Brewer acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were acquired at an average cost of $54.04 per share, with a total value of $270,200.00. Following the completion of the acquisition, the insider now directly owns 7,302 shares in the company, valued at approximately $394,600.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 15,000 shares of the stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the transaction, the director now directly owns 29,000 shares in the company, valued at $1,511,770. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,832 shares of company stock worth $15,834,037. Insiders own 3.40% of the company’s stock.
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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