Adell Harriman & Carpenter Inc. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.8% during the first quarter, Holdings Channel reports. The fund owned 142,447 shares of the coffee company’s stock after selling 1,090 shares during the period. Starbucks Corporation comprises approximately 1.9% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 14th largest position. Adell Harriman & Carpenter Inc.’s holdings in Starbucks Corporation were worth $8,317,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Syntal Capital Partners LLC bought a new stake in Starbucks Corporation during the fourth quarter valued at approximately $246,000. Fusion Family Wealth LLC bought a new stake in Starbucks Corporation during the fourth quarter valued at approximately $123,000. Elgethun Capital Management bought a new stake in Starbucks Corporation during the fourth quarter valued at approximately $147,000. BLS Capital Fondsmaeglerselskab A S bought a new stake in Starbucks Corporation during the fourth quarter valued at approximately $22,239,000. Finally, Cipher Capital LP bought a new stake in Starbucks Corporation during the fourth quarter valued at approximately $3,129,000. 71.12% of the stock is owned by institutional investors.
Starbucks Corporation (NASDAQ SBUX) opened at 59.81 on Monday. The company has a market cap of $86.61 billion, a PE ratio of 29.58 and a beta of 0.76. The firm has a 50-day moving average price of $61.50 and a 200-day moving average price of $58.38. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. Starbucks Corporation also was the target of unusually large options trading on Friday. Investors acquired 3,347 call options on the company. This represents an increase of 149% compared to the typical daily volume of 1,342 call options.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 EPS. On average, analysts forecast that Starbucks Corporation will post $2.11 EPS for the current year.
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Several equities research analysts have recently commented on the company. Vetr downgraded Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 price objective for the company. in a report on Thursday, May 25th. Mizuho started coverage on Starbucks Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $75.00 price objective for the company. Sanford C. Bernstein reaffirmed a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a report on Monday, June 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a report on Tuesday, June 13th. Finally, OTR Global downgraded Starbucks Corporation to a “positive” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have issued a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and an average price target of $65.30.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now directly owns 24,000 shares in the company, valued at approximately $1,455,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the transaction, the insider now owns 363,343 shares in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. Insiders sold a total of 144,826 shares of company stock worth $8,642,454 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
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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