Physicians Financial Services Inc. grew its stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,117 shares of the coffee company’s stock after acquiring an additional 180 shares during the quarter. Physicians Financial Services Inc.’s holdings in Starbucks were worth $845,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Advisory Alpha LLC boosted its holdings in Starbucks by 4.5% in the first quarter. Advisory Alpha LLC now owns 2,152 shares of the coffee company’s stock valued at $224,000 after acquiring an additional 92 shares in the last quarter. Western Pacific Wealth Management LP grew its holdings in Starbucks by 4.2% in the first quarter. Western Pacific Wealth Management LP now owns 2,379 shares of the coffee company’s stock worth $248,000 after purchasing an additional 95 shares during the period. Perennial Investment Advisors LLC increased its stake in shares of Starbucks by 2.0% during the fourth quarter. Perennial Investment Advisors LLC now owns 4,996 shares of the coffee company’s stock valued at $496,000 after purchasing an additional 98 shares in the last quarter. FLC Capital Advisors grew its stake in shares of Starbucks by 1.2% in the 1st quarter. FLC Capital Advisors now owns 8,310 shares of the coffee company’s stock worth $865,000 after buying an additional 99 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV raised its stake in Starbucks by 0.7% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after buying an additional 100 shares during the last quarter. Institutional investors own 70.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, July 19th. StockNews.com started coverage on shares of Starbucks in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Citigroup reduced their price target on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating for the company in a research report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and set a $104.00 target price on shares of Starbucks in a research note on Wednesday, August 2nd. Finally, Bank of America upped their price target on Starbucks from $131.00 to $150.00 and gave the company a “buy” rating in a report on Friday, July 21st. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.70.
Starbucks Trading Up 0.6 %
Shares of SBUX stock opened at $96.24 on Wednesday. Starbucks Co. has a twelve month low of $82.43 and a twelve month high of $115.48. The stock has a market cap of $110.23 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.67 and a beta of 0.93. The company’s 50-day moving average price is $99.19 and its 200-day moving average price is $101.54.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The coffee company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $9.17 billion during the quarter, compared to analysts’ expectations of $9.29 billion. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.45 EPS for the current year.
Insider Buying and Selling at Starbucks
In related news, CFO Rachel Ruggeri sold 679 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total transaction of $68,307.40. Following the completion of the transaction, the chief financial officer now owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.
Starbucks Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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