The ratio improved, as 41 funds sold all Starbucks Corporation shares owned while 439 reduced positions. The institutional investor owned 4,110,529 shares of the coffee company’s stock after buying an additional 12,558 shares during the period. Pinnacle Associates Ltd.’s holdings in Starbucks were worth $3,936,000 as of its most recent filing with the SEC.
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Other large investors have also modified their holdings of the company. Brick & Kyle Associates raised its position in Starbucks by 27.6% in the fourth quarter. Deutsche Bank estimates earnings per share (EPS) in-line with the consensus estimate of $0.39, an increase of 6 cents compared to $0.33 in 2QFY15. Finally, Private Trust Company boosted its stake in Starbucks by 0.4% in the fourth quarter. Starbucks has a 1-year low of $42.05 and a 1-year high of $64.00.
Starbucks Corporation (NASDAQ:SBUX) decreased -2.30% to $59.50 while traded 17.57 million shares on 4/12/2016. Following the completion of the transaction, the director now directly owns 37,942 shares in the company, valued at approximately $2,159,279.22. The stock has a 50 day moving average price of $59.21 and a 200 day moving average price of $59.58. Starbucks’ current market cap stands at $87.27 billion.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 21st.
The company is due to report second quarter of fiscal year 2016 (2QFY16) results on April 21. The consensus estimate calls for revenue of $5.03 billion for the quarter, which would be a growth of over 10% year-over-year (YoY). During the same quarter in the prior year, the business posted $0.80 EPS.
Starbucks (SBUX) is finding a less rewarding reaction from Wall Street to its revamped loyalty program.
Starbucks Corporation (SBUX) stock is now trading at about $59.5 and lots of rating firms seem to have a target price set on the stock.
According to Zacks Investment Research, “Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipments primarily through its company-operated retail stores”. Barclays restated a “hold” rating on shares of Starbucks in a research note on Sunday, January 24th. Vetr downgraded it to “Buy” rating and $61.19 target price in a September 3 report. The Mean Recommendation sits at 1.7 which is based on 13 Strong Buy, 11 Buy and 4 Hold ratings. The stock now has an impact score of 76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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In other Starbucks news, Director James G. Shennan, Jr. sold 20,000 shares of Starbucks stock in a transaction that occurred on Monday, February 29th. The stock was sold at an average price of $56.91, for a total transaction of $938,104.44. “We continue to respect the company’s longer-term strategy (execution, innovation, infrastructure investments on labor, technology and capital management), and remain impressed with Starbucks’ industry leading SSS growth and solid profit growth, but believe these factors are fully priced into the shares at this time”.
