Huntington National Bank Boosts Stake in Starbucks Corp. (SBUX)
Huntington National Bank boosted its position in Starbucks Corp. (NASDAQ:SBUX) by 440.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,732 shares of the coffee company’s stock after buying an additional 156,256 shares during the period. Huntington National Bank’s holdings in Starbucks Corp. were worth $10,952,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SBUX. 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 last quarter. 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 last quarter. 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 last quarter. 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 last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Starbucks Corp. during the second quarter worth approximately $204,254,000. Hedge funds and other institutional investors own 68.13% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded up 0.6073% during midday trading on Wednesday, hitting $53.2414. The stock had a trading volume of 4,897,101 shares. 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 price is $54.71 and its 200-day moving average price is $56.33. The stock has a market cap of $78.08 billion, a price-to-earnings ratio of 29.9109 and a beta of 0.83.
Starbucks Corp. (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 21st. The coffee company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.34 billion. Starbucks Corp. had a return on equity of 46.89% and a net margin of 13.01%. Analysts forecast that Starbucks Corp. will post $1.89 earnings per share for the current year.
A number of equities analysts have issued reports on SBUX shares. BTIG Research reduced their target price on Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating and set a $68.00 target price on shares of Starbucks Corp. in a report on Monday, July 25th. Credit Agricole SA reduced their target price on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, September 28th. Piper Jaffray Cos. restated an “outperform” rating and set a $72.00 target price on shares of Starbucks Corp. in a report on Friday, July 22nd. Finally, Macquarie upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $66.54.
In related news, Director Myron E. Ullman III sold 12,654 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.70, for a total value of $742,789.80. Following the sale, the director now owns 26,654 shares in the company, valued at approximately $1,564,589.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.38% of the stock is owned by corporate insiders.
About Starbucks Corp.
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.
Receive News & Stock Ratings for Starbucks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corp. and related stocks with our FREE daily email newsletter.