Starbucks Corp. (SBUX) Position Increased by Whittier Trust Co.
Whittier Trust Co. increased its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 303,999 shares of the coffee company’s stock after buying an additional 7,478 shares during the period. Whittier Trust Co.’s holdings in Starbucks Corp. were worth $17,361,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of Starbucks Corp. by 0.3% in the first quarter. BlackRock Fund Advisors now owns 20,001,710 shares of the coffee company’s stock worth $1,194,102,000 after buying an additional 66,026 shares during the period. Geode Capital Management LLC raised its stake in shares of Starbucks Corp. by 6.6% in the first quarter. Geode Capital Management LLC now owns 13,405,080 shares of the coffee company’s stock worth $798,832,000 after buying an additional 829,990 shares during the period. BlackRock Group LTD raised its stake in shares of Starbucks Corp. by 5.9% in the first quarter. BlackRock Group LTD now owns 12,505,831 shares of the coffee company’s stock worth $746,597,000 after buying an additional 695,708 shares during the period. Wellington Management Group LLP raised its stake in shares of Starbucks Corp. by 19.5% in the first quarter. Wellington Management Group LLP now owns 4,927,772 shares of the coffee company’s stock worth $294,189,000 after buying an additional 805,688 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Starbucks Corp. during the second quarter worth about $204,254,000. Institutional investors and hedge funds own 68.13% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.60% during midday trading on Friday, reaching $53.46. 7,226,443 shares of the company’s stock were exchanged. The stock has a market cap of $78.40 billion, a P/E ratio of 30.03 and a beta of 0.83. Starbucks Corp. has a 1-year low of $52.63 and a 1-year high of $64.00. The firm’s 50-day moving average is $54.90 and its 200 day moving average is $56.47.
Starbucks Corp. (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. The company earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Equities analysts anticipate that Starbucks Corp. will post $1.89 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on SBUX shares. BTIG Research cut their target price on shares of Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating and issued a $68.00 target price on shares of Starbucks Corp. in a research note on Monday, July 25th. Credit Agricole SA dropped their price objective on shares of Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, September 28th. Piper Jaffray Cos. reiterated an “outperform” rating and set a $72.00 price objective on shares of Starbucks Corp. in a research note on Friday, July 22nd. Finally, Macquarie upgraded shares of Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.54.
In other news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the sale, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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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