Donaldson Capital Management LLC Boosts Holdings in Starbucks Corporation (SBUX)
Donaldson Capital Management LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,699 shares of the coffee company’s stock after buying an additional 1,331 shares during the quarter. Donaldson Capital Management LLC’s holdings in Starbucks Corporation were worth $3,306,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in shares of Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC lifted its stake in shares of Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer lifted its stake in shares of Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at $122,000. 70.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SBUX. UBS AG set a $70.00 price target on Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday, June 28th. BMO Capital Markets downgraded Starbucks Corporation from an “outperform” rating to a “market perform” rating and increased their price target for the company from $54.52 to $64.00 in a research note on Wednesday, August 9th. Cowen and Company reissued an “outperform” rating and issued a $62.00 price target (down previously from $63.00) on shares of Starbucks Corporation in a research note on Tuesday, October 10th. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Thirteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.24.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at 55.72 on Monday. The firm has a market capitalization of $80.45 billion, a P/E ratio of 28.13 and a beta of 0.78. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock’s 50 day moving average is $54.63 and its 200-day moving average is $57.73.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Analysts forecast that Starbucks Corporation will post $2.06 EPS for the current year.
Starbucks Corporation 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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