Pendal Group Ltd lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,654 shares of the coffee company's stock after selling 1,470 shares during the period. Pendal Group Ltd's holdings in Starbucks were worth $362,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SBUX. Fisher Asset Management LLC raised its position in shares of Starbucks by 19,316.8% during the 3rd quarter. Fisher Asset Management LLC now owns 9,618,502 shares of the coffee company's stock worth $810,455,000 after buying an additional 9,568,965 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Starbucks during the fourth quarter worth approximately $7,962,000. Public Investment Fund acquired a new stake in Starbucks in the second quarter worth approximately $482,273,000. Price T Rowe Associates Inc. MD boosted its stake in Starbucks by 29.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,598,025 shares of the coffee company's stock valued at $1,038,753,000 after purchasing an additional 3,133,826 shares in the last quarter. Finally, Sustainable Growth Advisers LP acquired a new position in shares of Starbucks during the 3rd quarter valued at $227,839,000. Institutional investors and hedge funds own 69.16% of the company's stock.
Get Starbucks alerts:Analyst Ratings Changes
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Starbucks from $100.00 to $114.00 and gave the stock an "overweight" rating in a report on Wednesday, January 18th. Credit Suisse Group boosted their target price on shares of Starbucks from $116.00 to $122.00 and gave the stock an "outperform" rating in a report on Friday, February 3rd. Bank of America lifted their price target on shares of Starbucks from $109.00 to $125.00 in a research report on Tuesday, January 3rd. BMO Capital Markets increased their price objective on Starbucks from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 15th. Finally, BTIG Research lifted their target price on Starbucks from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, January 19th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.74.
Insiders Place Their Bets
In other Starbucks news, EVP Zabrina Jenkins sold 2,962 shares of the business's stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $108.48, for a total value of $321,317.76. Following the completion of the sale, the executive vice president now owns 38,258 shares of the company's stock, valued at $4,150,227.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Zabrina Jenkins sold 2,962 shares of the firm's stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $108.48, for a total value of $321,317.76. Following the transaction, the executive vice president now directly owns 38,258 shares of the company's stock, valued at approximately $4,150,227.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 736 shares of the company's stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $105.50, for a total value of $77,648.00. Following the sale, the chief financial officer now directly owns 56,028 shares of the company's stock, valued at approximately $5,910,954. The disclosure for this sale can be found here. Insiders have sold 7,658 shares of company stock valued at $820,706 over the last three months. 1.98% of the stock is currently owned by insiders.
Starbucks Price Performance
Shares of Starbucks stock opened at $101.32 on Friday. The stock has a 50-day simple moving average of $103.87 and a 200-day simple moving average of $98.10. Starbucks Co. has a 52-week low of $68.39 and a 52-week high of $110.83. The firm has a market cap of $116.45 billion, a price-to-earnings ratio of 35.30, a P/E/G ratio of 1.68 and a beta of 0.94.
Starbucks (NASDAQ:SBUX – Get Rating) last posted its earnings results on Thursday, February 2nd. The coffee company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.02). Starbucks had a net margin of 10.09% and a negative return on equity of 39.78%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm earned $0.72 earnings per share. Starbucks's revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 3.41 earnings per share for the current year.
Starbucks Company Profile
(Get Rating)
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.
Read More
- Get a free copy of the StockNews.com research report on Starbucks (SBUX)
- The Squeeze Is On For EVGo, Rally To Follow
- Is The Bottom In For RH, Or Is This Just A Stopping Point?
- Dividend King H.B. Fuller Signals Slowing In 2023
- Is SoFi Technologies a Buy in the Midst of a Banking Crisis?
- 3 Companies That Just Started Paying Dividends
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Get Rating).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.
