Cipher Capital LP Purchases Shares of 35,118 Starbucks Co. (SBUX)

Cipher Capital LP bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,118 shares of the coffee company’s stock, valued at approximately $2,261,000.

Several other hedge funds have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan purchased a new position in Starbucks during the fourth quarter worth approximately $2,145,000. Gotham Asset Management LLC purchased a new position in shares of Starbucks in the fourth quarter valued at approximately $2,481,000. Miramar Capital LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $3,530,000. Baker Avenue Asset Management LP increased its holdings in shares of Starbucks by 17.9% in the fourth quarter. Baker Avenue Asset Management LP now owns 5,454 shares of the coffee company’s stock valued at $351,000 after purchasing an additional 827 shares during the last quarter. Finally, Sontag Advisory LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $115,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on SBUX. Piper Jaffray Companies increased their price target on Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group cut Starbucks from a “buy” rating to a “neutral” rating and increased their price target for the company from $72.00 to $78.00 in a report on Monday, April 8th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 27th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Monday, January 28th. Finally, Bank of America set a $75.00 price target on Starbucks and gave the company a “buy” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and an average price target of $68.00.

In other news, EVP Vivek C. Varma sold 50,000 shares of Starbucks stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $69.13, for a total value of $3,456,500.00. Following the completion of the sale, the executive vice president now directly owns 117,640 shares of the company’s stock, valued at $8,132,453.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Culver sold 169,096 shares of Starbucks stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $68.81, for a total value of $11,635,495.76. The disclosure for this sale can be found here. Insiders sold 565,806 shares of company stock valued at $38,789,988 over the last ninety days. Insiders own 3.98% of the company’s stock.

Shares of NASDAQ SBUX opened at $76.65 on Friday. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $76.95. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. The firm has a market capitalization of $94.35 billion, a PE ratio of 31.67, a PEG ratio of 2.17 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 24th. The coffee company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 2.72 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was first published by Modern Readers and is the property of of Modern Readers. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.modernreaders.com/news/2019/04/14/cipher-capital-lp-acquires-new-holdings-in-starbucks-co-sbux.html.

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

Read More: How Buying a Call Option Works

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.