Diversified Trust Co Sells 2,440 Shares of Starbucks Co. (NASDAQ:SBUX)
Diversified Trust Co cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 13.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,372 shares of the coffee company’s stock after selling 2,440 shares during the period. Diversified Trust Co’s holdings in Starbucks were worth $1,448,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Enterprise Trust & Investment Co bought a new position in Starbucks during the second quarter valued at approximately $25,000. Northern Oak Wealth Management Inc. boosted its stake in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after buying an additional 177 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in Starbucks during the second quarter valued at approximately $32,000. Atlas Capital Advisors LLC boosted its stake in Starbucks by 53.3% during the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after buying an additional 145 shares during the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Starbucks during the second quarter valued at approximately $42,000. 70.73% of the stock is owned by institutional investors.
SBUX has been the subject of several analyst reports. OTR Global raised Starbucks to a “positive” rating in a research note on Tuesday, July 16th. UBS Group raised their price objective on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. BidaskClub lowered Starbucks from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Evercore ISI initiated coverage on Starbucks in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on Starbucks in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $92.00 price objective for the company. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $90.10.
Shares of SBUX stock traded up $0.55 on Wednesday, reaching $85.46. 377,013 shares of the company’s stock were exchanged, compared to its average volume of 8,493,585. Starbucks Co. has a 52 week low of $54.71 and a 52 week high of $99.72. The stock has a market capitalization of $101.64 billion, a PE ratio of 35.31, a P/E/G ratio of 2.09 and a beta of 0.53. The company’s fifty day simple moving average is $91.98 and its 200 day simple moving average is $85.03.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company earned $0.62 EPS. Starbucks’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 2.83 EPS for the current year.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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