Starbucks Co. (SBUX) Shares Sold by Telos Capital Management Inc.
Telos Capital Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,500 shares of the coffee company’s stock after selling 488 shares during the period. Telos Capital Management Inc.’s holdings in Starbucks were worth $728,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Jacobi Capital Management LLC lifted its holdings in Starbucks by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC lifted its holdings in Starbucks by 2.5% during the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer lifted its holdings in Starbucks by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in Starbucks by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $122,000. 70.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks Co. (SBUX) opened at 55.09 on Monday. Starbucks Co. has a 52 week low of $50.84 and a 52 week high of $64.87. The firm has a market cap of $79.54 billion, a PE ratio of 27.81 and a beta of 0.78. The company has a 50 day moving average of $54.19 and a 200 day moving average of $57.85.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks had a net margin of 12.21% and a return on equity of 48.46%. Starbucks’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities research analysts anticipate that Starbucks Co. will post $2.07 EPS for the current fiscal year.
In related news, insider John Culver sold 64,776 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Bank of America Corporation reiterated a “neutral” rating and set a $65.00 target price on shares of Starbucks in a report on Thursday, September 14th. Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Cowen and Company reiterated a “buy” rating and set a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. Wedbush upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $57.00 to $60.00 in a report on Friday, August 25th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $67.00 target price on shares of Starbucks in a report on Wednesday, August 23rd. Thirteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.64.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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