LS Investment Advisors LLC raised its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,731 shares of the coffee company’s stock after buying an additional 2,001 shares during the period. LS Investment Advisors LLC’s holdings in Starbucks Corp. were worth $1,812,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Glenmede Trust Co. NA increased its stake in shares of Starbucks Corp. by 981.6% in the first quarter. Glenmede Trust Co. NA now owns 1,193,313 shares of the coffee company’s stock worth $71,239,000 after buying an additional 1,082,983 shares in the last quarter. Investment Centers of America Inc. increased its stake in shares of Starbucks Corp. by 22.2% in the first quarter. Investment Centers of America Inc. now owns 54,084 shares of the coffee company’s stock worth $3,230,000 after buying an additional 9,835 shares in the last quarter. Sii Investments Inc. WI increased its stake in shares of Starbucks Corp. by 13.2% in the first quarter. Sii Investments Inc. WI now owns 51,960 shares of the coffee company’s stock worth $3,105,000 after buying an additional 6,047 shares in the last quarter. Factory Mutual Insurance Co. increased its stake in shares of Starbucks Corp. by 9.1% in the first quarter. Factory Mutual Insurance Co. now owns 708,800 shares of the coffee company’s stock worth $42,315,000 after buying an additional 59,200 shares in the last quarter. Finally, Telemus Capital LLC acquired a new stake in shares of Starbucks Corp. during the first quarter worth $445,000. 68.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.60% during trading on Friday, hitting $53.46. The stock had a trading volume of 7,279,723 shares. The stock has a 50 day moving average of $54.84 and a 200 day moving average of $56.43. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00. The firm has a market cap of $78.40 billion, a PE ratio of 30.03 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last posted its earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The company earned $5.20 billion during 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%. On average, equities analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current year.
Several equities research analysts recently weighed in on SBUX shares. Royal Bank Of Canada reissued an “outperform” rating and set a $68.00 price objective on shares of Starbucks Corp. in a report on Monday, June 13th. Wedbush reissued an “outperform” rating and set a $70.00 price objective on shares of Starbucks Corp. in a report on Tuesday, June 14th. Zacks Investment Research downgraded Starbucks Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Robert W. Baird reissued an “outperform” rating on shares of Starbucks Corp. in a report on Tuesday, June 28th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $66.54.
In other news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction dated Tuesday, July 26th. The shares were 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 in the company, valued at $1,564,589.80. The transaction was disclosed in a document filed with the SEC, which is accessible 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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