Garde Capital Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.1% in the 2nd quarter, Holdings Channel reports. The fund owned 26,628 shares of the coffee company’s stock after selling 1,124 shares during the quarter. Garde Capital Inc.’s holdings in Starbucks were worth $2,232,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Enterprise Trust & Investment Co bought a new position in Starbucks during the 2nd quarter valued at approximately $25,000. Northern Oak Wealth Management Inc. increased its position in Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after buying an additional 177 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Starbucks during the 2nd quarter valued at approximately $32,000. Atlas Capital Advisors LLC increased its position in Starbucks by 53.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after buying an additional 145 shares in the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Starbucks during the 2nd quarter valued at approximately $42,000. 70.73% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered Starbucks from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. UBS Group raised their price objective on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Evercore ISI initiated coverage on Starbucks in a research report on Tuesday, June 11th. They set an “in-line” rating and a $82.00 price objective for the company. Barclays raised their price objective on Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $89.53.
In other news, EVP Vivek C. Varma sold 21,128 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $95.86, for a total value of $2,025,330.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.80, for a total value of $191,600.00. Following the completion of the transaction, the chief accounting officer now owns 39,999 shares in the company, valued at $3,831,904.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,794 shares of company stock worth $12,846,450. Company insiders own 3.98% of the company’s stock.
Shares of Starbucks stock traded down $0.22 on Monday, reaching $88.15. The company’s stock had a trading volume of 304,448 shares, compared to its average volume of 6,450,732. The company has a market capitalization of $107.49 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.40 and a beta of 0.56. The firm’s fifty day simple moving average is $94.11 and its two-hundred day simple moving average is $84.16. Starbucks Co. has a 52 week low of $54.71 and a 52 week high of $99.72.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. As a group, analysts expect that Starbucks Co. will post 2.83 EPS 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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