Tokio Marine Asset Management Co. Ltd. reduced its stake in Starbucks Corp. (NASDAQ:SBUX) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,506 shares of the coffee company’s stock after selling 1,208 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Starbucks Corp. were worth $2,485,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CLS Investments LLC boosted its position in Starbucks Corp. by 0.4% in the first quarter. CLS Investments LLC now owns 15,413 shares of the coffee company’s stock valued at $920,000 after buying an additional 68 shares in the last quarter. Abner Herrman & Brock LLC raised its stake in shares of Starbucks Corp. by 2.4% in the second quarter. Abner Herrman & Brock LLC now owns 4,152 shares of the coffee company’s stock valued at $234,000 after buying an additional 97 shares during the last quarter. Trust Co raised its stake in shares of Starbucks Corp. by 1.4% in the first quarter. Trust Co now owns 7,164 shares of the coffee company’s stock valued at $428,000 after buying an additional 101 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Starbucks Corp. by 2.0% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 5,271 shares of the coffee company’s stock valued at $315,000 after buying an additional 102 shares during the last quarter. Finally, Aviance Capital Management LLC raised its stake in shares of Starbucks Corp. by 1.2% in the second quarter. Aviance Capital Management LLC now owns 9,768 shares of the coffee company’s stock valued at $558,000 after buying an additional 112 shares during the last quarter. 68.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.55% during midday trading on Monday, reaching $53.84. The company had a trading volume of 5,479,037 shares. The stock has a 50-day moving average of $55.08 and a 200 day moving average of $56.56. The firm has a market capitalization of $78.96 billion, a price-to-earnings ratio of 30.25 and a beta of 0.83. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last posted 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 business 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%. On average, analysts anticipate that Starbucks Corp. will post $1.89 earnings per share for the current year.
SBUX has been the topic of several research reports. Morgan Stanley restated a “buy” rating and issued a $64.00 target price on shares of Starbucks Corp. in a research note on Sunday, August 14th. Zacks Investment Research lowered Starbucks Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Macquarie upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. RBC Capital Markets restated an “outperform” rating and issued a $68.00 target price on shares of Starbucks Corp. in a research note on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of Starbucks Corp. in a research note on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company 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 dated 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 directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The transaction was disclosed in a legal filing 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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