Hamilton Wealth LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,730 shares of the coffee company’s stock after selling 200 shares during the quarter. Hamilton Wealth LLC’s holdings in Starbucks were worth $241,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Enterprise Trust & Investment Co bought a new position in shares of Starbucks in the second quarter worth about $25,000. Northern Oak Wealth Management Inc. increased its stake in shares of Starbucks by 95.7% in the second 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 during the period. Redhawk Wealth Advisors Inc. acquired a new position in shares of Starbucks in the second quarter valued at approximately $32,000. Atlas Capital Advisors LLC increased its stake in shares of Starbucks by 53.3% in the second 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 during the period. Finally, Virtus ETF Advisers LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $42,000. 70.80% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Goldman Sachs Group assumed coverage on Starbucks in a research note on Monday, July 29th. They issued a “buy” rating and a $110.00 price objective for the company. KeyCorp upped their price objective on Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. UBS Group upped their price objective on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Stephens upped their price objective on Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Finally, Bank of America set a $100.00 price objective on Starbucks and gave the company a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the stock. Starbucks presently has an average rating of “Hold” and a consensus price target of $90.10.
In other news, CAO Jill Walker sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.80, for a total transaction of $191,600.00. Following the completion of the sale, the chief accounting officer now owns 39,999 shares of the company’s stock, valued at approximately $3,831,904.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin R. Johnson sold 23,390 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,767 shares of company stock valued at $13,730,357. Insiders own 3.98% of the company’s stock.
NASDAQ:SBUX traded down $0.24 on Thursday, reaching $86.47. 141,008 shares of the stock traded hands, compared to its average volume of 6,007,393. The firm has a market capitalization of $103.68 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.12 and a beta of 0.53. The company’s 50 day moving average is $90.46 and its 200-day moving average is $85.59. Starbucks Co. has a 1-year low of $57.39 and a 1-year high of $99.72.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, sell-side analysts predict that Starbucks Co. will post 2.83 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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