Compass Wealth Management LLC increased its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 60.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,709 shares of the coffee company’s stock after buying an additional 646 shares during the period. Compass Wealth Management LLC’s holdings in Starbucks were worth $156,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Norges Bank purchased a new stake in shares of Starbucks in the 4th quarter worth approximately $1,240,652,000. Flossbach Von Storch AG lifted its position in Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Bank of Nova Scotia lifted its position in Starbucks by 342.7% in the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Starbucks by 432.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Insider Activity at Starbucks
In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.
Starbucks Price Performance
Shares of NASDAQ:SBUX opened at $80.20 on Thursday. The stock has a market cap of $90.84 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.75 and a beta of 0.96. The firm has a fifty day moving average price of $80.61 and a 200 day moving average price of $88.89. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Sell-side analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently issued reports on SBUX. Evercore ISI lowered their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Jefferies Financial Group lowered their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. Wedbush lowered their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. BTIG Research lowered their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Finally, UBS Group lowered their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $95.00.
Read Our Latest Analysis on Starbucks
About Starbucks
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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