Baltimore Washington Financial Advisors Inc. purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 285 shares of the coffee company’s stock, valued at approximately $16,059,000. Starbucks comprises about 2.1% of Baltimore Washington Financial Advisors Inc.’s investment portfolio, making the stock its 8th largest position.
Several other institutional investors also recently bought and sold shares of the company. Fusion Family Wealth LLC acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $123,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $131,000. Cornerstone Advisors Inc. boosted its stake in shares of Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock worth $143,000 after buying an additional 1,715 shares during the last quarter. Stanford Investment Group Inc. boosted its stake in shares of Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock worth $143,000 after buying an additional 8 shares during the last quarter. Finally, Elgethun Capital Management acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $147,000. 68.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Co. (NASDAQ:SBUX) traded up 0.791% during midday trading on Friday, reaching $60.555. 3,127,460 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $56.93 and its 200 day moving average price is $56.20. The firm has a market capitalization of $88.25 billion, a P/E ratio of 31.054 and a beta of 0.79. Starbucks Co. has a 52-week low of $50.84 and a 52-week high of $60.56.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The company earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the firm posted $0.46 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Co. will post $2.13 EPS for the current fiscal year.
Several equities research analysts have issued reports on SBUX shares. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.13 price target on the stock. in a research note on Wednesday, January 4th. Instinet reaffirmed a “buy” rating and set a $70.00 price target on shares of Starbucks in a research note on Tuesday, January 3rd. BTIG Research reaffirmed a “buy” rating and set a $64.00 price target on shares of Starbucks in a research note on Thursday, December 22nd. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 10th. Finally, Sanford C. Bernstein set a $65.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Friday, January 27th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $64.30.
In other news, Director Joshua Cooper Ramo sold 5,868 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total value of $324,089.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.
Starbucks 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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