Renaissance Investment Group LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX – Get Rating ) by 41.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,023 shares of the coffee company’s stock after selling 2,104 shares during the period. Renaissance Investment Group LLC’s holdings in Starbucks were worth $300,000 as of its most recent SEC filing.
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A number of other large investors have also recently made changes to their positions in the business. New Millennium Group LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $25,000. Hillsdale Investment Management Inc. bought a new stake in shares of Starbucks in the third quarter valued at approximately $27,000. Bell Investment Advisors Inc increased its stake in shares of Starbucks by 44.4% in the third quarter. Bell Investment Advisors Inc now owns 478 shares of the coffee company’s stock valued at $40,000 after purchasing an additional 147 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $40,000. Finally, MADDEN SECURITIES Corp bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $40,000. Institutional Investors and hedge funds own 69.16% of the company’s shares.
Starbucks shares fall 1.7%
Shares of Starbucks traded down $1.73 during mid-day trading on Friday, reaching $98.70. 10,189,661 shares of the company’s stock were exchanged, with an average volume of 5,572,131. The business has a fifty-day moving average of $105.02 and a 200-day moving average of $97.32. Starbucks Co. has a 1-year low of $68.39 and a 1-year high of $110.83. The company has a market cap of $113.44 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 1.71 and a beta of 0.94.
Starbucks (NASDAQ:SBUX – Get Rating ) last posted its quarterly earnings data on Thursday, February 2nd. The coffee company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.02). Starbucks had a negative return on equity of 39.78% and a net margin of 10.09%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.78 billion. In the same quarter last year, the company earned $0.72 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Analysts expect Starbucks Co. to report 3.41 earnings per share for the current year.
Analysts set new price targets
SBUX has been the subject of a number of recent analyst reports. Barclays upped their target price on Starbucks from $121.00 to $123.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Bank of America upped their target price on Starbucks from $109.00 to $125.00 in a research report on Tuesday, January 3rd. BTIG Research boosted their target price on Starbucks from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 19th. TD Cowen reaffirmed an “outperform” rating and set a $116.00 target price on shares of Starbucks in a research report on Thursday. Finally, Robert W. Baird boosted their target price on Starbucks from $94.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Starbucks currently has an average rating of “Hold” and an average target price of $108.74, according to MarketBeat.com .
Insiders place their bets
In other Starbucks news, EVP Zabrina Jenkins sold 2,962 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $108.48, for a total transaction of $321,317.76. Following the completion of the transaction, the executive vice president now directly owns 38,258 shares in the company, valued at $4,150,227.84. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In other news, EVP Zabrina Jenkins sold 2,962 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $108.48, for a total transaction of $321,317.76. Following the sale, the executive vice president now owns 38,258 shares in the company, valued at $4,150,227.84. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, CFO Rachel Ruggeri sold 3,960 shares of the stock in a transaction on Monday, January 9th. The shares were sold at an average price of $106.50 for a total value of $421,740.00. Following the sale, the chief financial officer now owns 57,962 shares in the company, valued at approximately $6,172,953. Disclosure of this sale can be found here. Insiders sold 7,658 shares of company stock worth $820,706 over the last three months. 1.98% of shares are currently owned by corporate insiders.
Starbucks Corp. engages in the production, marketing and retailing of specialty coffee. It operates in the following segments: North America, International, Channel Development, Corporate and Other. The North America segment focuses on the United States and Canada. The international segment includes China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America and the Caribbean.
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