Polianta Ltd lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 8.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,160 shares of the coffee company’s stock after selling 1,300 shares during the quarter. Starbucks accounts for about 0.5% of Polianta Ltd’s investment portfolio, making the stock its 20th biggest holding. Polianta Ltd’s holdings in Starbucks were worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the company. Lake Point Wealth Management bought a new stake in Starbucks during the fourth quarter worth $25,000. Cowen Prime Services LLC bought a new stake in Starbucks during the first quarter worth $26,000. Paragon Capital Management LLC bought a new stake in Starbucks during the first quarter worth $29,000. C J Advisory Inc bought a new stake in Starbucks during the first quarter worth $34,000. Finally, Somerset Trust Co raised its position in Starbucks by 159.2% during the first quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock worth $61,000 after acquiring an additional 503 shares in the last quarter. Institutional investors own 71.63% of the company’s stock.
In related news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $84.64, for a total value of $844,114.72. Following the transaction, the director now directly owns 28,390 shares in the company, valued at $2,402,929.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Culver sold 63,937 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. Insiders sold 93,883 shares of company stock worth $7,422,903 over the last 90 days. 3.98% of the stock is currently owned by corporate insiders.
Shares of SBUX stock traded up $6.62 on Friday, hitting $97.60. The company’s stock had a trading volume of 9,771,852 shares, compared to its average volume of 6,077,276. The business has a 50 day simple moving average of $86.17. Starbucks Co. has a fifty-two week low of $50.21 and a fifty-two week high of $91.61. The company has a market cap of $109.80 billion, a P/E ratio of 40.33, a PEG ratio of 2.54 and a beta of 0.55.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Starbucks’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 2.78 EPS for the current year.
Several analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Arco Platform in a research report on Tuesday, June 25th. They set a “neutral” rating on the stock. KeyCorp upped their price target on shares of Tempur Sealy International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer set a $13.00 price objective on shares of ArQule and gave the company a “buy” rating in a research report on Thursday, July 11th. Evercore ISI assumed coverage on shares of Mondelez International in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, Stephens reissued a “hold” rating and issued a $18.00 price objective on shares of Cadence Bancorp in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $83.71.
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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