19,826 Shares in Starbucks Co. (SBUX) Purchased by Elkhorn Investments LLC

Elkhorn Investments LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,826 shares of the coffee company’s stock, valued at approximately $1,099,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Verition Fund Management LLC bought a new stake in Starbucks in the 2nd quarter valued at about $1,062,000. RNC Capital Management LLC boosted its holdings in Starbucks by 0.7% in the 2nd quarter. RNC Capital Management LLC now owns 18,259 shares of the coffee company’s stock valued at $1,065,000 after purchasing an additional 134 shares during the period. Farmers National Bank bought a new stake in Starbucks in the 2nd quarter valued at about $269,000. Lord Abbett & CO. LLC bought a new stake in Starbucks in the 2nd quarter valued at about $35,784,000. Finally, Griffin Asset Management Inc. bought a new stake in Starbucks in the 2nd quarter valued at about $235,000. Institutional investors and hedge funds own 73.52% of the company’s stock.

SBUX stock opened at $59.24 on Friday. The company has a market cap of $83,520.75, a P/E ratio of 28.76, a P/E/G ratio of 1.65 and a beta of 0.64. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79.



Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. research analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.

In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the completion of the transaction, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the transaction, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 247,664 shares of company stock valued at $14,243,602. 3.40% of the stock is owned by corporate insiders.

A number of analysts have issued reports on the stock. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price objective for the company in a report on Tuesday, April 3rd. Cowen downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $68.00 to $65.00 in a report on Friday. Zacks Investment Research downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a report on Tuesday, April 3rd. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, March 30th. Finally, Wedbush downgraded shares of Starbucks from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $56.00 in a report on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.17.

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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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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