UMB Bank N A MO cut its stake in Starbucks Corp. (NASDAQ:SBUX) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 238,724 shares of the coffee company’s stock after selling 36,074 shares during the period. UMB Bank N A MO’s holdings in Starbucks Corp. were worth $13,636,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Starbucks Corp. during the second quarter valued at about $14,354,000. Hermes Investment Management Ltd. boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. Institutional investors and hedge funds own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.98% on Thursday, reaching $53.45. 11,993,517 shares of the company’s stock were exchanged. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00. The company has a market cap of $78.39 billion, a price-to-earnings ratio of 30.03 and a beta of 0.80. The firm’s 50-day moving average price is $55.17 and its 200 day moving average price is $56.68.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Equities research analysts predict that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
Several brokerages have issued reports on SBUX. Deutsche Bank AG set a $64.00 price objective on Starbucks Corp. and gave the company a “hold” rating in a research note on Sunday, July 24th. Vetr cut Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.76 price objective on the stock. in a research note on Monday, July 11th. Cowen and Company restated a “buy” rating on shares of Starbucks Corp. in a research note on Monday, July 18th. Piper Jaffray Cos. restated an “outperform” rating and set a $72.00 price objective on shares of Starbucks Corp. in a research note on Friday, July 22nd. Finally, Wedbush restated an “outperform” rating and set a $70.00 price objective on shares of Starbucks Corp. in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Starbucks Corp. has an average rating of “Buy” and an average price target of $66.36.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now 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 accessible through the SEC website. 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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