Legacy Capital Partners Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,755 shares of the coffee company’s stock after purchasing an additional 250 shares during the period. Legacy Capital Partners Inc.’s holdings in Starbucks were worth $1,766,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in shares of Starbucks by 4.8% during the 3rd quarter. Morgan Stanley now owns 49,371,647 shares of the coffee company’s stock worth $2,806,283,000 after purchasing an additional 2,254,701 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Starbucks by 5,590.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after purchasing an additional 23,263,399 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Starbucks by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,579,438 shares of the coffee company’s stock worth $874,515,000 after purchasing an additional 100,049 shares during the period. Norges Bank purchased a new position in shares of Starbucks during the 4th quarter worth about $807,368,000. Finally, Legal & General Group Plc boosted its stake in shares of Starbucks by 1.4% during the 4th quarter. Legal & General Group Plc now owns 6,545,000 shares of the coffee company’s stock worth $421,405,000 after purchasing an additional 91,187 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Vivek C. Varma sold 73,242 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $68.36, for a total value of $5,006,823.12. Following the completion of the sale, the executive vice president now owns 140,882 shares in the company, valued at approximately $9,630,693.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Clifford Burrows sold 152,634 shares of the business’s stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $67.22, for a total transaction of $10,260,057.48. Following the completion of the sale, the insider now owns 311,083 shares of the company’s stock, valued at approximately $20,910,999.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 565,806 shares of company stock valued at $38,789,988. Company insiders own 3.98% of the company’s stock.
Starbucks stock opened at $76.06 on Friday. The stock has a market capitalization of $94.59 billion, a price-to-earnings ratio of 31.43, a P/E/G ratio of 2.18 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a current ratio of 1.41 and a quick ratio of 1.16. Starbucks Co. has a 1 year low of $47.37 and a 1 year high of $76.95.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 2.72 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. Wedbush reaffirmed a “hold” rating and set a $70.00 price target on shares of Starbucks in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. Mizuho set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Thursday, April 11th. BidaskClub cut shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th. Finally, CIBC boosted their price objective on shares of Starbucks from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus price target of $69.08.
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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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