Polianta Ltd lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 41.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,460 shares of the coffee company’s stock after selling 10,960 shares during the period. Polianta Ltd’s holdings in Starbucks were worth $1,149,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in SBUX. Gardiner Nancy B increased its holdings in shares of Starbucks by 2.8% during the 4th quarter. Gardiner Nancy B now owns 5,700 shares of the coffee company’s stock valued at $367,000 after acquiring an additional 156 shares during the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Starbucks by 1.8% during the 4th quarter. Kistler Tiffany Companies LLC now owns 9,319 shares of the coffee company’s stock worth $600,000 after buying an additional 162 shares during the period. Old North State Trust LLC lifted its position in shares of Starbucks by 26.7% during the 4th quarter. Old North State Trust LLC now owns 822 shares of the coffee company’s stock worth $52,000 after buying an additional 173 shares during the period. Tiemann Investment Advisors LLC increased its holdings in Starbucks by 3.5% during the 4th quarter. Tiemann Investment Advisors LLC now owns 5,160 shares of the coffee company’s stock valued at $332,000 after purchasing an additional 175 shares in the last quarter. Finally, WealthPLAN Partners LLC increased its holdings in Starbucks by 2.8% during the 4th quarter. WealthPLAN Partners LLC now owns 6,574 shares of the coffee company’s stock valued at $464,000 after purchasing an additional 182 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on SBUX shares. Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $68.00 in a research note on Friday, January 11th. BMO Capital Markets lowered their target price on Starbucks to $60.00 and set a “market perform” rating for the company in a research note on Friday, January 11th. They noted that the move was a valuation call. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price (up from $70.00) on shares of Starbucks in a research note on Friday, January 25th. CIBC lifted their target price on Starbucks from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, January 25th. Finally, Bank of America set a $75.00 target price on Starbucks and gave the company a “buy” rating in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the stock. Starbucks presently has an average rating of “Buy” and an average target price of $68.23.
In other news, EVP Vivek C. Varma sold 70,364 shares of the business’s stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total value of $4,928,998.20. Following the sale, the executive vice president now directly owns 138,004 shares in the company, valued at $9,667,180.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Vivek C. Varma sold 73,242 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $68.36, for a total value of $5,006,823.12. Following the completion of the sale, the executive vice president now owns 140,882 shares in the company, valued at $9,630,693.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 565,806 shares of company stock worth $38,789,988. Corporate insiders own 3.98% of the company’s stock.
Shares of Starbucks stock opened at $75.12 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $76.95. The firm has a market cap of $93.72 billion, a P/E ratio of 31.04, a P/E/G ratio of 2.18 and a beta of 0.51.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current fiscal year.
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Starbucks Company Profile
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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