Dubuque Bank & Trust Co. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 18.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,007 shares of the coffee company’s stock after purchasing an additional 29,274 shares during the period. Starbucks accounts for approximately 2.6% of Dubuque Bank & Trust Co.’s holdings, making the stock its 8th largest holding. Dubuque Bank & Trust Co.’s holdings in Starbucks were worth $15,845,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SBUX. Chesley Taft & Associates LLC boosted its position in shares of Starbucks by 1.2% in the 2nd quarter. Chesley Taft & Associates LLC now owns 92,280 shares of the coffee company’s stock worth $7,736,000 after purchasing an additional 1,059 shares during the last quarter. Pennsylvania Trust Co lifted its holdings in Starbucks by 30.8% during the second quarter. Pennsylvania Trust Co now owns 102,030 shares of the coffee company’s stock worth $8,553,000 after acquiring an additional 24,043 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Starbucks during the second quarter worth about $868,000. Townsend & Associates Inc lifted its holdings in Starbucks by 10.5% during the second quarter. Townsend & Associates Inc now owns 19,722 shares of the coffee company’s stock worth $1,731,000 after acquiring an additional 1,874 shares in the last quarter. Finally, New England Research & Management Inc. lifted its holdings in Starbucks by 10.3% during the second quarter. New England Research & Management Inc. now owns 5,625 shares of the coffee company’s stock worth $472,000 after acquiring an additional 525 shares in the last quarter. 71.63% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Lucy Lee Helm sold 10,000 shares of Starbucks stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $83.00, for a total transaction of $830,000.00. Following the completion of the transaction, the executive vice president now owns 113,455 shares in the company, valued at $9,416,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the sale, the director now owns 28,390 shares of the company’s stock, valued at approximately $2,402,929.60. The disclosure for this sale can be found here. Insiders have sold 93,883 shares of company stock valued at $7,422,903 in the last quarter. 3.98% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded HAYS PLC/ADR from a “sell” rating to a “hold” rating in a report on Tuesday, June 18th. Stifel Nicolaus reissued a “buy” rating on shares of Canopy Growth in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price target on Yum! Brands from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $137.00 target price on shares of Continental in a research report on Friday, April 26th. Finally, Oppenheimer set a $13.00 target price on ArQule and gave the company a “buy” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and an average target price of $79.95.
Starbucks stock traded down $0.81 during midday trading on Tuesday, reaching $90.11. 6,932,490 shares of the company’s stock were exchanged, compared to its average volume of 9,047,937. Starbucks Co. has a 52 week low of $50.21 and a 52 week high of $91.61. The company has a market cap of $109.37 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55. The firm has a 50-day moving average price of $85.70.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the company posted $0.53 earnings per share. Starbucks’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current year.
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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