Capital Investment Advisors LLC Raises Position in Starbucks Co. (SBUX)
Capital Investment Advisors LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,938 shares of the coffee company’s stock after purchasing an additional 175 shares during the quarter. Capital Investment Advisors LLC’s holdings in Starbucks were worth $664,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Cipher Capital LP acquired a new position in Starbucks in the 4th quarter worth approximately $2,261,000. Mark Sheptoff Financial Planning LLC acquired a new position in Starbucks in the 4th quarter worth approximately $32,000. Mackay Shields LLC boosted its stake in Starbucks by 55.0% in the 4th quarter. Mackay Shields LLC now owns 625,131 shares of the coffee company’s stock worth $40,259,000 after purchasing an additional 221,699 shares during the period. Standard Life Aberdeen plc boosted its stake in Starbucks by 5.4% in the 3rd quarter. Standard Life Aberdeen plc now owns 653,570 shares of the coffee company’s stock worth $37,153,000 after purchasing an additional 33,573 shares during the period. Finally, Legacy Capital Partners Inc. boosted its stake in shares of Starbucks by 1.1% during the 1st quarter. Legacy Capital Partners Inc. now owns 23,755 shares of the coffee company’s stock valued at $1,766,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Starbucks from $76.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Oppenheimer lifted their target price on shares of Starbucks from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Wedbush reissued a “hold” rating and set a $70.00 target price on shares of Starbucks in a research note on Thursday, April 18th. BidaskClub lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $69.08.
Starbucks stock opened at $75.99 on Wednesday. The firm has a market cap of $94.51 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $76.95.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. Starbucks’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. On average, research analysts expect that Starbucks Co. will post 2.73 EPS for the current year.
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Starbucks Company Profile
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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