Fulton Bank N.A. lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 16.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,516 shares of the coffee company’s stock after purchasing an additional 1,339 shares during the quarter. Fulton Bank N.A.’s holdings in Starbucks were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of SBUX. CX Institutional raised its position in Starbucks by 20.7% during the first quarter. CX Institutional now owns 42,449 shares of the coffee company’s stock valued at $3,156,000 after acquiring an additional 7,267 shares in the last quarter. Dubuque Bank & Trust Co. raised its position in Starbucks by 8.6% during the first quarter. Dubuque Bank & Trust Co. now owns 159,733 shares of the coffee company’s stock valued at $11,875,000 after acquiring an additional 12,651 shares in the last quarter. First Hawaiian Bank raised its position in Starbucks by 11.8% during the first quarter. First Hawaiian Bank now owns 31,987 shares of the coffee company’s stock valued at $2,378,000 after acquiring an additional 3,376 shares in the last quarter. Private Trust Co. NA raised its position in Starbucks by 3.0% during the first quarter. Private Trust Co. NA now owns 21,684 shares of the coffee company’s stock valued at $1,612,000 after acquiring an additional 636 shares in the last quarter. Finally, Bath Savings Trust Co raised its position in Starbucks by 0.3% during the first quarter. Bath Savings Trust Co now owns 137,877 shares of the coffee company’s stock valued at $10,250,000 after acquiring an additional 410 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.
SBUX has been the topic of several analyst reports. UBS Group downgraded Starbucks from a “buy” rating to a “neutral” rating and increased their price target for the company from $72.00 to $78.00 in a report on Monday, April 8th. Piper Jaffray Companies increased their price target on Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. BidaskClub upgraded Starbucks from a “buy” rating to a “strong-buy” rating in a report on Friday, February 15th. BMO Capital Markets lowered their price target on Starbucks to $60.00 and set a “market perform” rating on the stock in a report on Friday, January 11th. They noted that the move was a valuation call. Finally, Bank of America set a $75.00 price target on Starbucks and gave the company a “buy” rating in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $68.00.
Shares of Starbucks stock opened at $75.70 on Wednesday. The firm has a market capitalization of $95.32 billion, a PE ratio of 31.28, a P/E/G ratio of 2.19 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41. Starbucks Co. has a 1 year low of $47.37 and a 1 year high of $76.95.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.49 billion. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. Starbucks’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.72 earnings per share for the current year.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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