Ballast Inc. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,182 shares of the coffee company’s stock after purchasing an additional 287 shares during the quarter. Ballast Inc.’s holdings in Starbucks were worth $719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC raised its position in Starbucks by 977.6% during the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock valued at $664,219,000 after acquiring an additional 7,188,139 shares in the last quarter. Invesco Ltd. grew its holdings in Starbucks by 18.4% during the second quarter. Invesco Ltd. now owns 17,382,380 shares of the coffee company’s stock valued at $1,457,167,000 after purchasing an additional 2,706,533 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Starbucks during the third quarter valued at approximately $83,893,000. Banco Santander S.A. grew its holdings in Starbucks by 1,336.5% during the third quarter. Banco Santander S.A. now owns 920,478 shares of the coffee company’s stock valued at $81,389,000 after purchasing an additional 856,400 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Starbucks by 3,690.8% during the third quarter. Point72 Asset Management L.P. now owns 621,731 shares of the coffee company’s stock valued at $54,973,000 after purchasing an additional 605,330 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of Starbucks in a research note on Monday, December 9th. They issued an “outperform” rating and a $97.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Starbucks from $88.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Wedbush restated a “neutral” rating on shares of Starbucks in a research note on Thursday, October 31st. Barclays upgraded shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 price objective on the stock in a research note on Thursday, January 9th. Finally, Bank of America set a $100.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $92.35.
In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total transaction of $374,686.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, December 9th. The shares were sold at an average price of $86.47, for a total value of $172,940.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,207 shares of company stock valued at $3,072,954. Company insiders own 3.98% of the company’s stock.
Shares of NASDAQ SBUX traded up $0.06 during midday trading on Tuesday, reaching $91.14. 2,003,222 shares of the company traded hands, compared to its average volume of 5,528,921. The firm has a market cap of $106.48 billion, a PE ratio of 32.20, a PEG ratio of 2.28 and a beta of 0.51. The stock’s 50-day simple moving average is $87.59 and its 200-day simple moving average is $88.99. Starbucks Co. has a 12 month low of $62.93 and a 12 month high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.70. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share. Equities analysts expect that Starbucks Co. will post 3.05 earnings per share for the current fiscal year.
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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