First National Trust Co. Boosts Stake in Starbucks Corp. (SBUX)
First National Trust Co. boosted its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 44.6% during the second quarter, Holdings Channel reports. The institutional investor owned 11,229 shares of the coffee company’s stock after buying an additional 3,464 shares during the period. First National Trust Co.’s holdings in Starbucks Corp. were worth $641,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock valued at $1,194,102,000 after buying an additional 66,026 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $798,832,000 after buying an additional 829,990 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Starbucks Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 12,505,831 shares of the coffee company’s stock valued at $746,597,000 after buying an additional 695,708 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 valued at $294,189,000 after buying an additional 805,688 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Starbucks Corp. during the second quarter valued at about $204,254,000. 68.13% of the stock is currently owned by institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.34% during trading on Wednesday, reaching $53.35. The company’s stock had a trading volume of 7,451,916 shares. Starbucks Corp. has a 52-week low of $52.63 and a 52-week high of $64.00. The stock’s 50-day moving average is $54.98 and its 200 day moving average is $56.49. The firm has a market capitalization of $78.24 billion, a price-to-earnings ratio of 29.97 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. The firm earned $5.20 billion during the quarter, compared to analyst estimates of $5.34 billion. On average, analysts predict that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
SBUX has been the topic of several recent research reports. BTIG Research dropped their price objective on shares of Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating and set a $68.00 target price on shares of Starbucks Corp. in a research report on Monday, July 25th. Credit Agricole SA decreased their target price on shares of Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, September 28th. Piper Jaffray Cos. restated an “outperform” rating and set a $72.00 target price on shares of Starbucks Corp. in a research report on Friday, July 22nd. Finally, Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target 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 completion of the sale, the director now directly owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.
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.