McKinley Carter Wealth Services Inc. Purchases 667 Shares of Starbucks Co. (NASDAQ:SBUX)

McKinley Carter Wealth Services Inc. increased its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,845 shares of the coffee company’s stock after acquiring an additional 667 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Starbucks were worth $7,586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Magellan Asset Management Ltd increased its holdings in shares of Starbucks by 1.4% during the 1st quarter. Magellan Asset Management Ltd now owns 30,087,626 shares of the coffee company’s stock worth $3,287,675,000 after purchasing an additional 416,103 shares during the period. Geode Capital Management LLC increased its holdings in shares of Starbucks by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 19,158,097 shares of the coffee company’s stock worth $2,087,833,000 after purchasing an additional 437,321 shares during the period. Loomis Sayles & Co. L P increased its holdings in shares of Starbucks by 0.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 14,089,525 shares of the coffee company’s stock worth $1,539,562,000 after purchasing an additional 106,466 shares during the period. Polen Capital Management LLC increased its holdings in shares of Starbucks by 1.8% during the 1st quarter. Polen Capital Management LLC now owns 14,048,204 shares of the coffee company’s stock worth $1,535,047,000 after purchasing an additional 245,298 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Starbucks by 121.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,585,346 shares of the coffee company’s stock worth $1,265,931,000 after purchasing an additional 6,350,284 shares during the period. Hedge funds and other institutional investors own 68.27% of the company’s stock.

In other Starbucks news, COO John Culver sold 148,619 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $119.00, for a total value of $17,685,661.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin R. Johnson sold 359,177 shares of the company’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $122.81, for a total transaction of $44,110,527.37. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Shares of SBUX stock traded up $1.44 during trading hours on Thursday, reaching $114.51. 163,424 shares of the company were exchanged, compared to its average volume of 5,912,489. Starbucks Co. has a fifty-two week low of $81.92 and a fifty-two week high of $126.32. The stock’s fifty day moving average is $117.64 and its two-hundred day moving average is $114.26. The company has a market cap of $135.02 billion, a price-to-earnings ratio of 47.93, a P/E/G ratio of 3.06 and a beta of 0.88.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.23. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.26 billion. During the same period in the prior year, the business earned ($0.46) earnings per share. Starbucks’s quarterly revenue was up 77.6% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.25 EPS for the current year.

SBUX has been the topic of several research reports. TheStreet upgraded shares of Starbucks from a “c” rating to a “b-” rating in a report on Tuesday, July 27th. Wells Fargo & Company initiated coverage on shares of Starbucks in a research note on Sunday, June 20th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Starbucks in a research note on Thursday, September 2nd. They issued a “hold” rating and a $127.00 target price on the stock. Robert W. Baird reissued a “buy” rating on shares of Starbucks in a research note on Wednesday, July 28th. Finally, Piper Sandler upped their target price on shares of Starbucks from $104.00 to $108.00 and gave the company a “neutral” rating in a research note on Wednesday, July 28th. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $126.37.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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