Taylor Cottrill Erickson & Associates Inc. Takes Position in Starbucks Corp. (SBUX)
Taylor Cottrill Erickson & Associates Inc. bought a new stake in Starbucks Corp. (NASDAQ:SBUX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 43,132 shares of the coffee company’s stock, valued at approximately $2,464,000.
Several other hedge funds have also added to or reduced their stakes in the company. Mission Wealth Management LLC purchased a new position in shares of Starbucks Corp. during the first quarter valued at approximately $302,000. Perkins Coie Trust Co raised its position in shares of Starbucks Corp. by 73.1% in the first quarter. Perkins Coie Trust Co now owns 6,632 shares of the coffee company’s stock valued at $396,000 after buying an additional 2,800 shares in the last quarter. Culbertson A N & Co. Inc. purchased a new position in shares of Starbucks Corp. during the first quarter valued at approximately $1,754,000. Capital Investment Advisors LLC raised its position in shares of Starbucks Corp. by 2.3% in the first quarter. Capital Investment Advisors LLC now owns 4,940 shares of the coffee company’s stock valued at $295,000 after buying an additional 111 shares in the last quarter. Finally, Jacobs & Co. CA raised its position in shares of Starbucks Corp. by 3.6% in the first quarter. Jacobs & Co. CA now owns 119,659 shares of the coffee company’s stock valued at $7,143,000 after buying an additional 4,210 shares in the last quarter. Institutional investors and hedge funds own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.06% during mid-day trading on Friday, hitting $54.42. The company had a trading volume of 2,966,736 shares. The firm has a 50-day moving average price of $55.38 and a 200 day moving average price of $56.80. Starbucks Corp. has a 12 month low of $52.63 and a 12 month high of $64.00. The firm has a market capitalization of $79.81 billion, a P/E ratio of 30.57 and a beta of 0.80.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 return on equity of 46.89% and a net margin of 13.01%. On average, equities research analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the company. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price target on the stock in a research note on Monday, August 22nd. BTIG Research set a $64.00 price target on Starbucks Corp. and gave the company a “buy” rating in a research note on Monday, September 12th. Morgan Stanley restated an “overweight” rating on shares of Starbucks Corp. in a research note on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price target on Starbucks Corp. and gave the company a “buy” rating in a research note on Tuesday. Finally, Nomura restated a “buy” rating and set a $70.00 price target on shares of Starbucks Corp. in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Starbucks Corp. has an average rating of “Buy” and a consensus target price of $66.50.
In related news, Director Myron E. Ullman III sold 12,654 shares of the firm’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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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