CNB Bank purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,307 shares of the coffee company’s stock, valued at approximately $362,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Argus Investors Counsel Inc. lifted its position in shares of Starbucks by 1.2% during the fourth quarter. Argus Investors Counsel Inc. now owns 72,413 shares of the coffee company’s stock worth $4,159,000 after purchasing an additional 866 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Starbucks by 11.5% during the third quarter. NEXT Financial Group Inc now owns 8,853 shares of the coffee company’s stock worth $493,000 after purchasing an additional 910 shares in the last quarter. MAI Capital Management lifted its position in shares of Starbucks by 4.5% during the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after purchasing an additional 912 shares in the last quarter. V Wealth Management LLC lifted its position in shares of Starbucks by 8.6% during the fourth quarter. V Wealth Management LLC now owns 11,542 shares of the coffee company’s stock worth $680,000 after purchasing an additional 914 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. lifted its holdings in Starbucks by 6.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 15,542 shares of the coffee company’s stock valued at $834,000 after buying an additional 960 shares during the period. Hedge funds and other institutional investors own 73.47% of the company’s stock.
Shares of SBUX stock opened at $59.50 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The firm has a market cap of $83,534.80, a PE ratio of 28.88, a P/E/G ratio of 1.65 and a beta of 0.64.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. research analysts anticipate that Starbucks Co. will post 2.49 EPS for the current fiscal year.
In other news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares of the company’s stock, valued at $2,126,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. 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 three months. 3.48% of the stock is owned by insiders.
Several equities analysts recently weighed in on SBUX shares. Zacks Investment Research lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Oppenheimer restated a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a report on Friday, January 19th. Wedbush restated a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective (up from $66.00) on shares of Starbucks in a report on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $64.17.
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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