Sequoia Financial Advisors LLC decreased its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 15,683 shares of the coffee company’s stock after selling 219 shares during the period. Sequoia Financial Advisors LLC’s holdings in Starbucks Corp. were worth $896,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in Starbucks Corp. during the second quarter worth about $204,254,000. Geode Capital Management LLC raised 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 worth $798,832,000 after buying an additional 829,990 shares during the period. Samlyn Capital LLC bought a new stake in shares of Starbucks Corp. during the first quarter worth about $48,760,000. Svenska Handelsbanken AB publ bought a new stake in shares of Starbucks Corp. during the second quarter worth about $46,145,000. Finally, Wellington Management Group LLP raised 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 worth $294,189,000 after buying an additional 805,688 shares during the period. Institutional investors own 68.39% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during mid-day trading on Tuesday, reaching $52.61. The company’s stock had a trading volume of 6,531,225 shares. The stock’s 50 day moving average is $54.25 and its 200 day moving average is $56.14. Starbucks Corp. has a 12 month low of $52.59 and a 12 month high of $64.00. The company has a market cap of $77.16 billion, a price-to-earnings ratio of 29.56 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. Equities research analysts predict that Starbucks Corp. will post $1.89 EPS for the current year.
A number of analysts recently issued reports on SBUX shares. Zacks Investment Research lowered shares of Starbucks Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Robert W. Baird restated an “outperform” rating on shares of Starbucks Corp. in a research note on Tuesday, June 28th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a research note on Wednesday, June 29th. Vetr lowered shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.21 price target for the company. in a research note on Wednesday, June 29th. Finally, Jefferies Group restated a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corp. has an average rating of “Buy” and an average price target of $66.39.
In other news, Director Myron E. Ullman III sold 12,654 shares of the 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 sale, the director now owns 26,654 shares in the company, valued at $1,564,589.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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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