Starbucks Corporation (SBUX) Position Maintained by Eads & Heald Investment Counsel
Eads & Heald Investment Counsel continued to hold its position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,893 shares of the coffee company’s stock at the close of the 2nd quarter. Eads & Heald Investment Counsel’s holdings in Starbucks Corporation were worth $752,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its stake in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC lifted its position in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the last quarter. Sharkey Howes & Javer lifted its position in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in shares of Starbucks Corporation during the first quarter worth $122,000. Hedge funds and other institutional investors own 70.83% of the company’s stock.
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Shares of Starbucks Corporation (SBUX) opened at 53.99 on Wednesday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The stock has a 50 day moving average of $54.24 and a 200 day moving average of $57.80. The stock has a market capitalization of $77.96 billion, a P/E ratio of 27.25 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. Equities research analysts anticipate that Starbucks Corporation will post $2.06 EPS for the current fiscal year.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on SBUX. Mizuho initiated coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They set a “buy” rating and a $75.00 target price for the company. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price target on the stock in a research note on Thursday, June 8th. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Tuesday, June 13th. Finally, Wedbush cut shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $61.00 to $65.00 in a research report on Wednesday, June 14th. They noted that the move was a valuation call. Thirteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.33.
Starbucks Corporation Company Profile
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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