First PREMIER Bank reduced its position in Starbucks Co. (NASDAQ:SBUX) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,128 shares of the coffee company’s stock after selling 435 shares during the period. First PREMIER Bank’s holdings in Starbucks were worth $716,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SBUX. United Bank raised its position in shares of Starbucks by 18.5% in the second quarter. United Bank now owns 24,969 shares of the coffee company’s stock valued at $1,220,000 after purchasing an additional 3,893 shares during the period. Paloma Partners Management Co raised its position in shares of Starbucks by 19.8% in the second quarter. Paloma Partners Management Co now owns 36,141 shares of the coffee company’s stock valued at $1,765,000 after purchasing an additional 5,961 shares during the period. Centaurus Financial Inc. raised its position in shares of Starbucks by 81.7% in the second quarter. Centaurus Financial Inc. now owns 13,598 shares of the coffee company’s stock valued at $664,000 after purchasing an additional 6,115 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Starbucks by 274.8% in the second quarter. Moneta Group Investment Advisors LLC now owns 68,607 shares of the coffee company’s stock valued at $136,000 after purchasing an additional 50,301 shares during the period. Finally, Halsey Associates Inc. CT raised its position in shares of Starbucks by 7.9% in the second quarter. Halsey Associates Inc. CT now owns 223,294 shares of the coffee company’s stock valued at $10,908,000 after purchasing an additional 16,370 shares during the period. 76.01% of the stock is currently owned by institutional investors and hedge funds.
Starbucks stock traded down $0.08 on Monday, hitting $63.65. The company’s stock had a trading volume of 577,273 shares, compared to its average volume of 11,950,264. The firm has a market capitalization of $79.25 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.79 and a beta of 0.53. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 2.64 earnings per share for the current fiscal year.
SBUX has been the topic of a number of research reports. Wells Fargo & Co boosted their target price on shares of Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Citigroup boosted their target price on shares of Starbucks from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, November 12th. Argus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, November 12th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Finally, KeyCorp reaffirmed a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.12.
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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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