First Personal Financial Services trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 60,332 shares of the coffee company’s stock after selling 956 shares during the period. Starbucks makes up about 1.7% of First Personal Financial Services’ holdings, making the stock its 23rd largest holding. First Personal Financial Services’ holdings in Starbucks were worth $5,304,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Regal Wealth Group Inc. lifted its holdings in shares of Starbucks by 210.7% in the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 217 shares in the last quarter. 1 North Wealth Services LLC acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $30,000. Sound Income Strategies LLC raised its position in shares of Starbucks by 209.0% during the 4th quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after purchasing an additional 232 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in shares of Starbucks by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock worth $33,000 after purchasing an additional 14,069 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Starbucks by 246.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock valued at $36,000 after buying an additional 286 shares in the last quarter. Institutional investors own 69.97% of the company’s stock.
A number of equities research analysts have commented on SBUX shares. Weeden reiterated a “neutral” rating on shares of Starbucks in a report on Friday, November 1st. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating and set a $93.00 price target for the company. in a report on Monday, January 6th. Morgan Stanley upped their price objective on Starbucks from $88.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada restated a “buy” rating and issued a $97.00 price objective on shares of Starbucks in a research report on Thursday. Finally, Bank of America set a $100.00 price objective on Starbucks and gave the company a “buy” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $92.35.
Shares of SBUX stock opened at $92.03 on Friday. The firm has a market capitalization of $110.72 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.37 and a beta of 0.51. Starbucks Co. has a one year low of $65.91 and a one year high of $99.72. The company has a 50 day moving average price of $89.30 and a 200 day moving average price of $89.40.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.70. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter last year, the business earned $0.62 EPS. Starbucks’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.05 earnings per share for the current fiscal year.
In other news, Director Myron E. Ullman III sold 9,973 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $84.79, for a total transaction of $845,610.67. Following the completion of the sale, the director now owns 28,407 shares in the company, valued at approximately $2,408,629.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $86.47, for a total transaction of $172,940.00. The disclosure for this sale can be found here. Insiders sold a total of 35,207 shares of company stock worth $3,072,954 over the last ninety days. Corporate insiders own 3.98% of the company’s stock.
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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