Herndon Capital Management LLC reduced its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 39.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,239 shares of the coffee company’s stock after selling 10,797 shares during the period. Herndon Capital Management LLC’s holdings in Starbucks Corp. were worth $928,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Starbucks Corp. during the second quarter worth approximately $123,000. Proficio Capital Partners LLC raised its stake in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in 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 last quarter. Community Bank N.A. raised its stake in 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 last quarter. Finally, Maryland Capital Management bought a new stake in Starbucks Corp. during the first quarter worth approximately $201,000. 68.39% of the stock is currently owned by institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded up 1.03% during mid-day trading on Wednesday, hitting $53.15. The stock had a trading volume of 9,083,468 shares. The firm has a market cap of $77.95 billion, a P/E ratio of 29.86 and a beta of 0.83. Starbucks Corp. has a 1-year low of $52.59 and a 1-year high of $64.00. The stock has a 50 day moving average of $54.13 and a 200-day moving average of $56.08.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Analysts predict that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
SBUX has been the topic of a number of analyst reports. Zacks Investment Research lowered Starbucks Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Morgan Stanley reissued a “buy” rating and issued a $64.00 price target on shares of Starbucks Corp. in a research note on Sunday, August 14th. Macquarie raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. RBC Capital Markets reissued an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a research note on Tuesday, September 13th. Finally, Jefferies Group reissued a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 5th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. presently has an average rating of “Buy” and a consensus target price of $66.04.
In other news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the sale, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.38% of the stock is owned by insiders.
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corp. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.