KCM Investment Advisors LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 8.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 167,348 shares of the coffee company’s stock after buying an additional 13,502 shares during the quarter. KCM Investment Advisors LLC’s holdings in Starbucks were worth $14,713,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Boston Private Wealth LLC grew its holdings in shares of Starbucks by 32.4% during the 4th quarter. Boston Private Wealth LLC now owns 150,917 shares of the coffee company’s stock valued at $13,269,000 after purchasing an additional 36,926 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Starbucks by 3.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 403,978 shares of the coffee company’s stock worth $35,518,000 after purchasing an additional 13,039 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of Starbucks during the third quarter valued at about $744,000. Griffin Asset Management Inc. boosted its stake in shares of Starbucks by 1.8% during the fourth quarter. Griffin Asset Management Inc. now owns 69,252 shares of the coffee company’s stock valued at $6,089,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Pacitti Group Inc. bought a new stake in shares of Starbucks during the third quarter worth about $178,000. 69.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $70.14, for a total transaction of $140,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total value of $374,686.24. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, January 28th. The coffee company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.11 billion. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. Starbucks’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. On average, analysts anticipate that Starbucks Co. will post 2.82 earnings per share for the current fiscal year.
A number of brokerages have recently commented on SBUX. William Blair reiterated a “buy” rating on shares of Starbucks in a report on Wednesday, January 29th. BMO Capital Markets reissued a “market perform” rating and issued a $85.00 price target on shares of Starbucks in a research note on Wednesday, January 29th. Jefferies Financial Group lowered their price objective on Starbucks from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. MKM Partners lowered Starbucks from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $92.00 to $52.00 in a research note on Monday. Finally, Oppenheimer reduced their target price on Starbucks from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and thirteen have given a buy rating to the company. Starbucks has an average rating of “Hold” and an average target price of $86.68.
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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