Chicago Capital LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,538 shares of the coffee company’s stock after selling 1,037 shares during the period. Chicago Capital LLC’s holdings in Starbucks were worth $1,442,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new position in shares of Starbucks in the second quarter worth about $25,000. My Personal CFO LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $25,000. Piershale Financial Group Inc. purchased a new position in Starbucks during the fourth quarter valued at approximately $25,000. Hillsdale Investment Management Inc. purchased a new position in Starbucks during the third quarter valued at approximately $27,000. Finally, WJ Interests LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $34,000. Institutional investors own 69.16% of the company’s stock.
Insiders Place Their Bets
In other Starbucks news, EVP Zabrina Jenkins sold 2,962 shares of Starbucks stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $108.48, for a total value of $321,317.76. Following the transaction, the executive vice president now owns 38,258 shares in the company, valued at $4,150,227.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, EVP Zabrina Jenkins sold 2,962 shares of Starbucks stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $108.48, for a total value of $321,317.76. Following the transaction, the executive vice president now owns 38,258 shares in the company, valued at $4,150,227.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 736 shares of Starbucks stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $105.50, for a total value of $77,648.00. Following the completion of the transaction, the chief financial officer now owns 56,028 shares in the company, valued at approximately $5,910,954. The disclosure for this sale can be found here. Insiders sold 7,658 shares of company stock valued at $820,706 over the last three months. 1.98% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. StockNews.com raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup boosted their price objective on shares of Starbucks from $111.00 to $112.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Guggenheim boosted their price objective on shares of Starbucks from $92.00 to $103.00 in a report on Friday, January 6th. Jefferies Financial Group lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Wednesday, December 21st. Finally, Wells Fargo & Company started coverage on shares of Starbucks in a report on Monday, January 23rd. They set an “overweight” rating and a $120.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.74.
Starbucks Price Performance
Shares of NASDAQ:SBUX traded down $0.33 during trading on Tuesday, hitting $98.33. The company’s stock had a trading volume of 1,366,418 shares, compared to its average volume of 6,172,291. Starbucks Co. has a 12 month low of $68.39 and a 12 month high of $110.83. The company has a 50-day moving average of $104.18 and a 200-day moving average of $97.99. The firm has a market cap of $113.01 billion, a price-to-earnings ratio of 34.38, a P/E/G ratio of 1.67 and a beta of 0.94.
Starbucks (NASDAQ:SBUX – Get Rating) last posted its earnings results on Thursday, February 2nd. The coffee company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.02). Starbucks had a net margin of 10.09% and a negative return on equity of 39.78%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.41 earnings per share for the current year.
About Starbucks
Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.