Ferguson Wellman Capital Management Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,669 shares of the coffee company’s stock after selling 336 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Starbucks were worth $2,429,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SBUX. HC Financial Advisors Inc. increased its holdings in Starbucks by 233.5% in the 3rd quarter. HC Financial Advisors Inc. now owns 27,445 shares of the coffee company’s stock worth $1,560,000 after acquiring an additional 19,215 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Starbucks by 2.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 59,253 shares of the coffee company’s stock worth $3,368,000 after acquiring an additional 1,307 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in Starbucks by 31.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 119,960 shares of the coffee company’s stock worth $6,817,000 after acquiring an additional 28,845 shares in the last quarter. Kentucky Retirement Systems bought a new position in Starbucks in the 3rd quarter worth approximately $4,877,000. Finally, B. Riley Wealth Management Inc. bought a new position in Starbucks in the 3rd quarter worth approximately $350,000. 73.34% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Vivek C. Varma sold 50,470 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $69.39, for a total transaction of $3,502,113.30. Following the completion of the transaction, the executive vice president now directly owns 118,110 shares in the company, valued at approximately $8,195,652.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vivek C. Varma sold 70,364 shares of the stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $70.05, for a total value of $4,928,998.20. Following the transaction, the executive vice president now owns 138,004 shares of the company’s stock, valued at $9,667,180.20. The disclosure for this sale can be found here. Insiders have sold a total of 565,806 shares of company stock valued at $38,789,988 over the last quarter. Corporate insiders own 3.98% of the company’s stock.
Several research analysts have weighed in on SBUX shares. Goldman Sachs Group downgraded Starbucks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $75.00 to $68.00 in a research note on Friday, January 11th. BMO Capital Markets dropped their price target on Starbucks to $60.00 and set a “market perform” rating for the company in a research note on Friday, January 11th. They noted that the move was a valuation call. Oppenheimer restated an “outperform” rating and issued a $72.00 price target (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. CIBC upped their price target on Starbucks from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, January 25th. Finally, Bank of America set a $75.00 price target on Starbucks and gave the stock a “buy” rating in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $69.08.
NASDAQ SBUX opened at $75.40 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. The company has a market cap of $94.58 billion, a PE ratio of 31.16, a PEG ratio of 2.17 and a beta of 0.51. Starbucks Co. has a one year low of $47.37 and a one year high of $76.95.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.49 billion. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. On average, sell-side analysts expect that Starbucks Co. will post 2.73 EPS for the current 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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