Huntington National Bank Boosts Stake in Starbucks Corp. (SBUX)
Huntington National Bank increased its stake in Starbucks Corp. (NASDAQ:SBUX) by 440.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,732 shares of the coffee company’s stock after buying an additional 156,256 shares during the period. Huntington National Bank’s holdings in Starbucks Corp. were worth $10,952,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Starbucks Corp. during the second quarter valued at $204,254,000. Geode Capital Management LLC increased 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 valued at $798,832,000 after buying an additional 829,990 shares during the last quarter. Samlyn Capital LLC bought a new stake in Starbucks Corp. during the first quarter valued at $48,760,000. Svenska Handelsbanken AB publ bought a new stake in Starbucks Corp. during the second quarter valued at $46,145,000. Finally, Wellington Management Group LLP increased 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 valued at $294,189,000 after buying an additional 805,688 shares during the last quarter. Institutional investors own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.6073% during trading on Wednesday, reaching $53.2414. 4,897,101 shares of the company traded hands. The firm’s 50 day moving average price is $54.71 and its 200-day moving average price is $56.33. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00. The company has a market capitalization of $78.08 billion, a price-to-earnings ratio of 29.9109 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The company earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Equities analysts anticipate that Starbucks Corp. will post $1.89 EPS for the current fiscal year.
Several equities analysts recently issued reports on SBUX shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $69.00 price objective (down from $73.00) on shares of Starbucks Corp. in a research report on Wednesday, July 20th. Cowen and Company reaffirmed a “buy” rating on shares of Starbucks Corp. in a research report on Monday, July 18th. Nomura reaffirmed a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Starbucks Corp. in a research report on Tuesday, July 12th. Finally, 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 report on Monday, July 11th. One investment 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 given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.54.
In other 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 value of $742,789.80. Following the completion of the sale, the director now owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a filing with the SEC, which is accessible through 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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