Proficio Capital Partners LLC boosted its position in Starbucks Corp. (NASDAQ:SBUX) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 2,205 shares of the coffee company’s stock after buying an additional 109 shares during the period. Proficio Capital Partners LLC’s holdings in Starbucks Corp. were worth $128,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SBUX. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Starbucks Corp. during the second quarter worth approximately $123,000. Kistler Tiffany Companies LLC raised its position in shares of Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock worth $146,000 after buying an additional 1,484 shares during the period. Community Bank N.A. raised its position in shares of Starbucks Corp. by 4.6% in the second quarter. Community Bank N.A. now owns 3,383 shares of the coffee company’s stock worth $193,000 after buying an additional 150 shares during the period. Maryland Capital Management bought a new position in shares of Starbucks Corp. during the first quarter worth approximately $201,000. Finally, Papp L Roy & Associates bought a new position in shares of Starbucks Corp. during the second quarter worth approximately $202,000. 68.39% of the stock is currently owned by institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during mid-day trading on Tuesday, hitting $52.61. 6,531,225 shares of the stock were exchanged. The company has a market cap of $77.16 billion, a P/E ratio of 29.56 and a beta of 0.83. Starbucks Corp. has a one year low of $52.59 and a one year high of $64.00. The company has a 50-day moving average price of $54.25 and a 200-day moving average price of $56.14.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. Analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Starbucks Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Credit Agricole SA cut their price objective on shares of Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, September 28th. Wedbush cut their price objective on shares of Starbucks Corp. from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, September 28th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $69.00 price objective on shares of Starbucks Corp. in a report on Friday, September 23rd. Finally, Piper Jaffray Cos. set a $72.00 price objective on shares of Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $66.39.
In other news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the sale, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.38% of the company’s stock.
About Starbucks Corp.
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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