Mizuho Asset Management Co. Ltd. increased its position in Starbucks Corp. (NASDAQ:SBUX) by 285.4% during the second quarter, Holdings Channel reports. The institutional investor owned 19,454 shares of the coffee company’s stock after buying an additional 14,406 shares during the period. Mizuho Asset Management Co. Ltd.’s holdings in Starbucks Corp. were worth $1,111,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Starbucks Corp. during the second quarter valued at approximately $123,000. Proficio Capital Partners LLC boosted its stake in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock valued at $128,000 after buying an additional 109 shares during the period. LSV Asset Management acquired a new stake in Starbucks Corp. during the second quarter valued at approximately $134,000. Kistler Tiffany Companies LLC boosted its stake in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares during the period. Finally, Global X Management Co. LLC boosted its stake in Starbucks Corp. by 293.5% in the second quarter. Global X Management Co. LLC now owns 2,833 shares of the coffee company’s stock valued at $162,000 after buying an additional 2,113 shares during the period. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.784% during midday trading on Wednesday, hitting $53.765. The stock had a trading volume of 2,203,049 shares. The firm has a market capitalization of $78.85 billion, a PE ratio of 30.205 and a beta of 0.80. Starbucks Corp. has a one year low of $52.63 and a one year high of $64.00. The firm’s 50-day moving average price is $55.27 and its 200-day moving average price is $56.72.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting analysts’ consensus estimates of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The business earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. On average, equities analysts predict that Starbucks Corp. will post $1.89 EPS for the current year.
Several research firms have commented on SBUX. Deutsche Bank AG set a $64.00 price target on Starbucks Corp. and gave the company a “hold” rating in a report on Sunday, July 24th. Credit Agricole SA lowered their price target on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday. Vetr cut Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 price target for the company. in a report on Monday, July 11th. Cowen and Company restated a “buy” rating on shares of Starbucks Corp. in a report on Monday, July 18th. Finally, Piper Jaffray Cos. restated an “outperform” rating and issued a $72.00 price target on shares of Starbucks Corp. in a report on Friday, July 22nd. One 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.36.
In related news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. 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 completion of the sale, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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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