Westbourne Investment Advisors Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,970 shares of the coffee company’s stock after selling 900 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Starbucks were worth $226,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Archford Capital Strategies LLC boosted its position in Starbucks by 669.7% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after buying an additional 1,902 shares during the period. Fort L.P. purchased a new position in Starbucks in the 2nd quarter valued at approximately $112,000. Point72 Hong Kong Ltd purchased a new position in Starbucks in the 2nd quarter valued at approximately $115,000. RPg Family Wealth Advisory LLC boosted its position in Starbucks by 155.6% in the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after buying an additional 1,673 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in Starbucks by 52.5% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,941 shares of the coffee company’s stock valued at $144,000 after buying an additional 1,013 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the director now directly owns 29,000 shares in the company, valued at approximately $1,511,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction on Friday, August 24th. The stock was sold at an average price of $52.70, for a total transaction of $8,783,298.20. The disclosure for this sale can be found here. Insiders have sold a total of 295,832 shares of company stock worth $15,834,037 over the last quarter. 3.40% of the stock is owned by company insiders.
Shares of NASDAQ:SBUX opened at $58.66 on Friday. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $61.94. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The firm has a market cap of $79.11 billion, a P/E ratio of 28.48, a P/E/G ratio of 1.60 and a beta of 0.60.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the business earned $0.55 EPS. Starbucks’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 2.4 EPS for the current fiscal year.
Several equities analysts have commented on SBUX shares. Zacks Investment Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Wells Fargo & Co raised their price target on shares of Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday. ValuEngine raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Finally, DZ Bank raised shares of Starbucks from a “sell” rating to a “hold” rating and decreased their price target for the company from $52.00 to $48.00 in a research report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.48.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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