Strs Ohio reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 27.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,529,957 shares of the coffee company’s stock after selling 576,824 shares during the period. Strs Ohio owned about 0.10% of Starbucks Corporation worth $82,831,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Farmers National Bank bought a new position in Starbucks Corporation during the second quarter worth approximately $101,000. Cascade Investment Advisors Inc. bought a new position in Starbucks Corporation during the second quarter worth approximately $107,000. Valley National Advisers Inc. boosted its position in Starbucks Corporation by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Starbucks Corporation during the second quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC boosted its position in Starbucks Corporation by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at 57.88 on Wednesday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $61.78. The stock’s 50 day moving average price is $57.38 and its 200 day moving average price is $55.67. The stock has a market cap of $84.24 billion, a price-to-earnings ratio of 30.46 and a beta of 0.79.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Starbucks Corporation had a return on equity of 49.88% and a net margin of 13.22%. The business earned $5.71 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post $2.14 EPS for the current fiscal year.
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SBUX has been the topic of a number of research analyst reports. BMO Capital Markets restated a “buy” rating on shares of Starbucks Corporation in a report on Friday, November 4th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $69.00 price target on shares of Starbucks Corporation in a report on Friday, September 23rd. Vetr cut shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $62.81 price target on the stock. in a report on Tuesday, November 22nd. Zacks Investment Research lowered shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Starbucks Corporation in a research note on Friday, November 4th. Six investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus price target of $63.89.
In other Starbucks Corporation news, insider Clifford Burrows sold 80,000 shares of the company’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $58.88, for a total value of $4,710,400.00. Following the sale, the insider now owns 248,517 shares of the company’s stock, valued at $14,632,680.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Culver sold 168,814 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $58.65, for a total value of $9,900,941.10. Following the completion of the sale, the insider now directly owns 478,446 shares in the company, valued at approximately $28,060,857.90. The disclosure for this sale can be found here. Corporate insiders own 3.38% of the company’s stock.
Starbucks Corporation Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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