Starbucks Co. (NASDAQ:SBUX) Shares Bought by Cardinal Capital Management

Cardinal Capital Management increased its stake in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,631 shares of the coffee company’s stock after purchasing an additional 1,487 shares during the quarter. Starbucks comprises about 1.2% of Cardinal Capital Management’s portfolio, making the stock its 27th biggest holding. Cardinal Capital Management’s holdings in Starbucks were worth $7,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OLD National Bancorp IN grew its holdings in Starbucks by 12.7% during the third quarter. OLD National Bancorp IN now owns 15,344 shares of the coffee company’s stock worth $1,496,000 after acquiring an additional 1,725 shares during the period. Vest Financial LLC purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $720,000. Allspring Global Investments Holdings LLC boosted its stake in Starbucks by 40.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 496,951 shares of the coffee company’s stock worth $48,448,000 after purchasing an additional 143,258 shares during the period. Penn Davis Mcfarland Inc. purchased a new position in Starbucks during the 3rd quarter worth approximately $2,786,000. Finally, Arlington Partners LLC raised its stake in Starbucks by 6.5% during the 3rd quarter. Arlington Partners LLC now owns 43,934 shares of the coffee company’s stock valued at $4,283,000 after purchasing an additional 2,697 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $112.55 on Tuesday. The business’s 50-day simple moving average is $98.28 and its 200-day simple moving average is $96.14. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $113.47. The firm has a market cap of $127.85 billion, a price-to-earnings ratio of 36.31, a P/E/G ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same period in the previous year, the business earned $0.90 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBUX. Stifel Nicolaus raised their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.