Schroder Investment Management Group raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,034 shares of the coffee company’s stock after purchasing an additional 79,455 shares during the period. Schroder Investment Management Group owned 0.05% of Starbucks worth $34,271,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Starbucks by 6.6% in the 1st quarter. Principal Financial Group Inc. now owns 5,043,587 shares of the coffee company’s stock valued at $291,975,000 after acquiring an additional 312,720 shares in the last quarter. Green Square Capital LLC raised its stake in shares of Starbucks by 20.4% in the 1st quarter. Green Square Capital LLC now owns 11,651 shares of the coffee company’s stock valued at $674,000 after acquiring an additional 1,971 shares in the last quarter. Crawford Investment Counsel Inc. raised its stake in shares of Starbucks by 29.7% in the 1st quarter. Crawford Investment Counsel Inc. now owns 10,826 shares of the coffee company’s stock valued at $627,000 after acquiring an additional 2,480 shares in the last quarter. Ostrum Asset Management raised its stake in shares of Starbucks by 717.3% in the 1st quarter. Ostrum Asset Management now owns 22,206 shares of the coffee company’s stock valued at $1,286,000 after acquiring an additional 19,489 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Starbucks by 89.9% in the 1st quarter. Ancora Advisors LLC now owns 16,075 shares of the coffee company’s stock valued at $931,000 after acquiring an additional 7,611 shares in the last quarter. 71.90% of the stock is owned by institutional investors.
In other news, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $53.98, for a total transaction of $809,700.00. Following the sale, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,565,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rosalind G. Brewer acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of $54.04 per share, for a total transaction of $270,200.00. Following the acquisition, the insider now directly owns 7,302 shares in the company, valued at approximately $394,600.08. The disclosure for this purchase can be found here. Insiders have sold a total of 295,832 shares of company stock worth $15,834,037 in the last three months. 3.48% of the stock is owned by insiders.
A number of research analysts recently weighed in on SBUX shares. Zacks Investment Research raised Starbucks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 21st. BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. ValuEngine raised Starbucks from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. DZ Bank raised Starbucks from a “sell” rating to a “hold” rating and cut their price objective for the company from $52.00 to $48.00 in a research note on Friday, July 6th. Finally, Oppenheimer cut their price objective on Starbucks from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $60.35.
Shares of NASDAQ SBUX opened at $56.01 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $76.68 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.60. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $61.94.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.25 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, research analysts forecast that Starbucks Co. will post 2.4 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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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