Shamrock Asset Management LLC lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,230 shares of the coffee company’s stock after purchasing an additional 162 shares during the period. Shamrock Asset Management LLC’s holdings in Starbucks were worth $612,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Ocean Capital Management LLC bought a new position in Starbucks during the 4th quarter worth approximately $1,665,000. Moody Lynn & Lieberson LLC lifted its holdings in shares of Starbucks by 2.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 8,331 shares of the coffee company’s stock worth $537,000 after purchasing an additional 204 shares during the last quarter. Wealthstreet Investment Advisors LLC lifted its holdings in shares of Starbucks by 1.1% in the 4th quarter. Wealthstreet Investment Advisors LLC now owns 43,647 shares of the coffee company’s stock worth $2,920,000 after purchasing an additional 482 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Starbucks by 136.0% in the 4th quarter. Raymond James Trust N.A. now owns 93,999 shares of the coffee company’s stock worth $6,054,000 after purchasing an additional 54,177 shares during the last quarter. Finally, CAPROCK Group Inc. lifted its holdings in shares of Starbucks by 4.9% in the 4th quarter. CAPROCK Group Inc. now owns 16,760 shares of the coffee company’s stock worth $1,079,000 after purchasing an additional 783 shares during the last quarter. Institutional investors own 71.60% of the company’s stock.
SBUX has been the topic of several analyst reports. Wells Fargo & Co cut Starbucks from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. BMO Capital Markets raised their target price on Starbucks from $60.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Wedbush restated a “hold” rating and issued a $70.00 target price on shares of Starbucks in a research report on Thursday, April 18th. Piper Jaffray Companies raised their target price on Starbucks from $77.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target (up from $70.00) on shares of Starbucks in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $77.19.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Starbucks had a negative return on equity of 494.61% and a net margin of 11.87%. Starbucks’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Starbucks Co. will post 2.78 earnings per share for the current fiscal year.
In other news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Culver sold 63,937 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total value of $4,989,643.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,910 shares of company stock valued at $6,578,788. 3.98% of the stock is currently owned by insiders.
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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