Peoples Bank OH Reduces Holdings in Starbucks Corporation (SBUX)
Peoples Bank OH lessened its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,675 shares of the coffee company’s stock after selling 405 shares during the period. Peoples Bank OH’s holdings in Starbucks Corporation were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. CGOV Asset Management lifted its holdings in shares of Starbucks Corporation by 5.1% in the 1st quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock valued at $88,920,000 after acquiring an additional 55,405 shares during the last quarter. Waldron LP lifted its holdings in shares of Starbucks Corporation by 44.8% in the 1st quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock valued at $1,057,000 after acquiring an additional 5,604 shares during the last quarter. Mycio Wealth Partners LLC bought a new position in shares of Starbucks Corporation in the 1st quarter valued at about $209,000. Dubuque Bank & Trust Co. lifted its holdings in shares of Starbucks Corporation by 16.1% in the 1st quarter. Dubuque Bank & Trust Co. now owns 82,998 shares of the coffee company’s stock valued at $4,846,000 after acquiring an additional 11,512 shares during the last quarter. Finally, Adviser Investments LLC lifted its holdings in shares of Starbucks Corporation by 182.2% in the 1st quarter. Adviser Investments LLC now owns 15,317 shares of the coffee company’s stock valued at $894,000 after acquiring an additional 9,889 shares during the last quarter. 70.82% of the stock is owned by institutional investors and hedge funds.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 54.95 on Tuesday. The firm has a market capitalization of $79.34 billion, a P/E ratio of 27.74 and a beta of 0.78. The stock’s 50 day moving average is $54.19 and its 200 day moving average is $57.85. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current year.
A number of brokerages recently commented on SBUX. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. BMO Capital Markets downgraded shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $54.52 to $64.00 in a research note on Wednesday, August 9th. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley decreased their price objective on shares of Starbucks Corporation from $68.00 to $62.00 and set a “weight” rating for the company in a research note on Tuesday, August 22nd. Thirteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.64.
Starbucks Corporation Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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