British Airways Pensions Investment Management Ltd lowered its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 18.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 519,030 shares of the coffee company’s stock after selling 119,720 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Starbucks Corp. were worth $29,765,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Adams Diversified Equity Fund Inc. bought a new stake in Starbucks Corp. during the second quarter valued at $14,354,000. Hermes Investment Management Ltd. increased its stake in Starbucks Corp. by 19.2% in the second quarter. Hermes Investment Management Ltd. now owns 191,294 shares of the coffee company’s stock valued at $10,927,000 after buying an additional 30,800 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Starbucks Corp. by 4.9% in the first quarter. First Republic Investment Management Inc. now owns 1,438,991 shares of the coffee company’s stock valued at $85,907,000 after buying an additional 66,883 shares during the last quarter. Ledyard National Bank increased its stake in Starbucks Corp. by 5.7% in the second quarter. Ledyard National Bank now owns 124,528 shares of the coffee company’s stock valued at $7,113,000 after buying an additional 6,720 shares during the last quarter. Finally, National Pension Service increased its stake in Starbucks Corp. by 4.1% in the first quarter. National Pension Service now owns 774,160 shares of the coffee company’s stock valued at $46,217,000 after buying an additional 30,627 shares during the last quarter. 68.13% of the stock is owned by institutional investors.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.28% on Tuesday, hitting $54.19. The company had a trading volume of 6,463,747 shares. The company has a market capitalization of $79.48 billion, a P/E ratio of 30.44 and a beta of 0.80. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The firm has a 50-day moving average price of $55.26 and a 200 day moving average price of $56.72.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. Equities analysts expect that Starbucks Corp. will post $1.89 EPS for the current year.
Several equities research analysts recently weighed in on SBUX shares. Vetr raised shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price target for the company in a report on Monday, August 22nd. BTIG Research set a $64.00 price target on shares of Starbucks Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Morgan Stanley reissued an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price target on shares of Starbucks Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. Finally, Nomura reissued a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently 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 stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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