Savant Capital LLC Raises Stake in Starbucks Corp. (SBUX)
Savant Capital LLC raised its position in Starbucks Corp. (NASDAQ:SBUX) by 30.7% during the second quarter, Holdings Channel reports. The firm owned 11,911 shares of the coffee company’s stock after buying an additional 2,795 shares during the period. Savant Capital LLC’s holdings in Starbucks Corp. were worth $680,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of SBUX. Commonwealth Equity Services Inc increased its stake in Starbucks Corp. by 12.4% in the first quarter. Commonwealth Equity Services Inc now owns 508,430 shares of the coffee company’s stock worth $30,353,000 after buying an additional 56,244 shares during the period. River Wealth Advisors LLC increased its stake in Starbucks Corp. by 8.7% in the first quarter. River Wealth Advisors LLC now owns 9,733 shares of the coffee company’s stock worth $581,000 after buying an additional 783 shares during the period. Telemus Capital LLC acquired a new stake in Starbucks Corp. during the first quarter worth about $445,000. Factory Mutual Insurance Co. increased its stake in Starbucks Corp. by 9.1% in the first quarter. Factory Mutual Insurance Co. now owns 708,800 shares of the coffee company’s stock worth $42,315,000 after buying an additional 59,200 shares during the period. Finally, Sii Investments Inc. WI increased its stake in Starbucks Corp. by 13.2% in the first quarter. Sii Investments Inc. WI now owns 51,960 shares of the coffee company’s stock worth $3,105,000 after buying an additional 6,047 shares during the period. 68.13% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corp. (NASDAQ:SBUX) traded down 0.39% during trading on Thursday, hitting $53.14. The company had a trading volume of 6,130,060 shares. Starbucks Corp. has a 12-month low of $52.63 and a 12-month high of $64.00. The firm has a 50-day moving average of $54.98 and a 200 day moving average of $56.49. The company has a market capitalization of $77.94 billion, a price-to-earnings ratio of 29.85 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, meeting the 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 analysts’ expectations of $5.34 billion. On average, equities research analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.
A number of analysts recently issued reports on the stock. Goldman Sachs Group Inc. raised shares of Starbucks Corp. from a “buy” rating to a “conviction-buy” rating and set a $69.00 target price for the company in a research report on Tuesday, July 26th. Stifel Nicolaus reissued a “hold” rating on shares of Starbucks Corp. in a research report on Sunday, July 24th. Deutsche Bank AG set a $64.00 target price on shares of Starbucks Corp. and gave the stock a “hold” rating in a research report on Sunday, July 24th. Nomura restated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. Finally, RBC Capital Markets restated an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. One investment 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 issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.54.
In related news, Director Myron E. Ullman III sold 12,654 shares of the 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 completion of the transaction, the director now directly owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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