Butensky & Cohen Financial Security Inc. cut its stake in Starbucks Corp. (NASDAQ:SBUX) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 26,535 shares of the coffee company’s stock after selling 250 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in Starbucks Corp. were worth $1,516,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. BlackRock Fund Advisors boosted its stake in shares of Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock valued at $1,194,102,000 after buying an additional 66,026 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock valued at $798,832,000 after buying an additional 829,990 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Starbucks Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 12,505,831 shares of the coffee company’s stock valued at $746,597,000 after buying an additional 695,708 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Starbucks Corp. by 19.5% in the first quarter. Wellington Management Group LLP now owns 4,927,772 shares of the coffee company’s stock valued at $294,189,000 after buying an additional 805,688 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Starbucks Corp. during the second quarter valued at $204,254,000. 68.13% of the stock is currently owned by institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.07% on Friday, hitting $54.43. The stock had a trading volume of 6,945,147 shares. The company has a 50 day moving average price of $55.35 and a 200-day moving average price of $56.78. The company has a market cap of $79.83 billion, a price-to-earnings ratio of 30.58 and a beta of 0.80. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, equities research analysts predict that Starbucks Corp. will post $1.89 earnings per share for the current year.
Several equities research analysts recently weighed in on SBUX shares. BTIG Research reduced their price target on Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. RBC Capital Markets reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a research note on Monday, July 25th. Piper Jaffray Cos. reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Starbucks Corp. in a research note on Friday, July 22nd. Macquarie raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. Finally, Vetr cut Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.21 price target on the stock. in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.50.
In related news, Director Myron E. Ullman III sold 12,654 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.38% of the company’s stock.
Starbucks Corp. 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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