Calamos Advisors LLC Has $124,425,000 Position in Starbucks Corp. (SBUX)
Calamos Advisors LLC cut its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,178,312 shares of the coffee company’s stock after selling 110,318 shares during the period. Starbucks Corp. accounts for about 0.9% of Calamos Advisors LLC’s holdings, making the stock its 19th largest position. Calamos Advisors LLC owned 0.15% of Starbucks Corp. worth $124,425,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC raised its stake in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares during the last quarter. Dubuque Bank & Trust Co. raised its stake in Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock valued at $176,000 after buying an additional 262 shares during the last quarter. Community Bank N.A. raised its stake in Starbucks Corp. by 4.6% in the second quarter. Community Bank N.A. now owns 3,383 shares of the coffee company’s stock valued at $193,000 after buying an additional 150 shares during the last quarter. Maryland Capital Management bought a new stake in Starbucks Corp. during the first quarter valued at about $201,000. Finally, Heritage Investors Management Corp acquired a new stake in shares of Starbucks Corp. during the second quarter valued at $207,000. 68.13% of the stock is owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded up 1.29% during midday trading on Friday, reaching $54.14. The company’s stock had a trading volume of 13,767,754 shares. The company’s 50-day moving average is $55.13 and its 200 day moving average is $56.64. The firm has a market capitalization of $79.40 billion, a P/E ratio of 30.42 and a beta of 0.80. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. Analysts expect that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on SBUX. Vetr upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 price target on the stock in a report on Monday, August 22nd. BTIG Research set a $64.00 price target on Starbucks Corp. and gave the stock a “buy” rating in a report on Monday, September 12th. Morgan Stanley reiterated an “overweight” rating on shares of Starbucks Corp. in a report on Wednesday, June 29th. Piper Jaffray Cos. set a $72.00 price target on Starbucks Corp. and gave the stock a “buy” rating in a report on Tuesday, September 20th. Finally, Nomura reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Starbucks Corp. has a consensus rating of “Buy” and an average price target of $66.54.
In other Starbucks Corp. news, Director Myron E. Ullman III sold 12,654 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total transaction of $742,789.80. Following the transaction, the director now owns 26,654 shares of the company’s stock, valued at $1,564,589.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.38% of the company’s stock.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
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