L & S Advisors Inc decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,384 shares of the coffee company’s stock after selling 320 shares during the quarter. L & S Advisors Inc’s holdings in Starbucks were worth $490,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SBUX. Price T Rowe Associates Inc. MD increased its holdings in Starbucks by 121.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,585,346 shares of the coffee company’s stock valued at $1,265,931,000 after buying an additional 6,350,284 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Starbucks in the first quarter valued at about $358,133,000. Arrowstreet Capital Limited Partnership bought a new stake in Starbucks in the first quarter valued at about $118,319,000. Mn Services Vermogensbeheer B.V. bought a new stake in Starbucks in the second quarter valued at about $81,394,000. Finally, Bank of New York Mellon Corp increased its holdings in Starbucks by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 10,393,980 shares of the coffee company’s stock valued at $1,162,152,000 after buying an additional 757,995 shares during the last quarter. 68.27% of the stock is owned by hedge funds and other institutional investors.
In other news, COO John Culver sold 148,619 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $119.00, for a total value of $17,685,661.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin R. Johnson sold 359,177 shares of the stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $122.81, for a total value of $44,110,527.37. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Monday, July 26th. The coffee company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.23. Starbucks had a negative return on equity of 43.16% and a net margin of 10.43%. The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.26 billion. During the same quarter in the prior year, the firm earned ($0.46) EPS. The company’s quarterly revenue was up 77.6% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 3.25 earnings per share for the current fiscal year.
Several analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Starbucks from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. BMO Capital Markets upped their target price on Starbucks from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. MKM Partners upped their target price on Starbucks from $125.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 28th. Stifel Nicolaus lowered their target price on Starbucks from $135.00 to $130.00 and set a “buy” rating for the company in a report on Monday, September 20th. Finally, TheStreet raised Starbucks from a “c” rating to a “b-” rating in a report on Tuesday, July 27th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Buy” and a consensus price target of $126.37.
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.
Featured Story: What does RSI mean?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.