Huntington National Bank maintained its stake in shares of Starbucks Corp. (NASDAQ:SBUX) during the second quarter, Holdings Channel reports. The firm owned 35,476 shares of the coffee company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Starbucks Corp. were worth $3,359,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. BlackRock Fund Advisors raised its stake in Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock worth $1,194,102,000 after buying an additional 66,026 shares during the last quarter. Geode Capital Management LLC raised its stake in Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock worth $798,832,000 after buying an additional 829,990 shares during the last quarter. BlackRock Group LTD raised its stake in Starbucks Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 12,505,831 shares of the coffee company’s stock worth $746,597,000 after buying an additional 695,708 shares during the last quarter. Wellington Management Group LLP raised its stake in Starbucks Corp. by 19.5% in the first quarter. Wellington Management Group LLP now owns 4,927,772 shares of the coffee company’s stock worth $294,189,000 after buying an additional 805,688 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Starbucks Corp. during the second quarter worth about $204,254,000. 68.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.07% during trading on Friday, reaching $54.43. 6,945,147 shares of the company’s stock were exchanged. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00. The company has a 50 day moving average price of $55.35 and a 200-day moving average price of $56.78. The company has a market capitalization of $79.83 billion, a PE ratio of 30.58 and a beta of 0.80.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate 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 forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.
SBUX has been the topic of a number of recent research reports. Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks Corp. in a research note on Thursday, September 8th. Zacks Investment Research lowered Starbucks Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday. BTIG Research set a $64.00 target price on Starbucks Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. RBC Capital Markets reaffirmed 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 reaffirmed a “buy” rating and issued a $65.00 target price on shares of Starbucks Corp. in a research note on Wednesday, August 3rd. One 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 assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $66.50.
In related news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.38% of the stock is currently owned by corporate insiders.
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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