Whittier Trust Co. raised its stake in Starbucks Corp. (NASDAQ:SBUX) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 303,999 shares of the coffee company’s stock after buying an additional 7,478 shares during the period. Whittier Trust Co.’s holdings in Starbucks Corp. were worth $17,361,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Starbucks Corp. during the second quarter valued at approximately $123,000. Kistler Tiffany Companies LLC boosted its stake 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 valued at $146,000 after buying an additional 1,484 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock valued at $176,000 after buying an additional 262 shares in the last quarter. Community Bank N.A. boosted its stake 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 valued at $193,000 after buying an additional 150 shares in the last quarter. Finally, Maryland Capital Management acquired a new stake in shares of Starbucks Corp. during the first quarter valued at approximately $201,000. Institutional investors own 68.13% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.60% during trading on Friday, hitting $53.46. 7,226,443 shares of the company traded hands. The company has a market capitalization of $78.40 billion, a P/E ratio of 30.03 and a beta of 0.83. The stock has a 50 day moving average price of $54.90 and a 200 day moving average price of $56.47. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The business earned $5.20 billion during the quarter, compared to the consensus estimate of $5.34 billion. On average, equities analysts anticipate that Starbucks Corp. will post $1.89 earnings per share for the current year.
SBUX has been the subject of a number of analyst reports. Vetr upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price objective for the company in a report on Monday, August 22nd. BTIG Research set a $64.00 price objective on shares of Starbucks Corp. and gave the company a “buy” rating in a report on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. 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. Finally, Nomura restated a “buy” rating and set a $70.00 price objective on shares of Starbucks Corp. in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $66.54.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the firm’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 is available through this hyperlink. Company 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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