Walker Asset Management LLC Makes New $1.96 Million Investment in Starbucks Co. (NASDAQ:SBUX)

Walker Asset Management LLC bought a new position in Starbucks Co. (NASDAQ:SBUXGet Rating) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 21,539 shares of the coffee company’s stock, valued at approximately $1,959,000. Starbucks makes up about 1.6% of Walker Asset Management LLC’s portfolio, making the stock its 9th largest holding.

Other hedge funds also recently modified their holdings of the company. Bouvel Investment Partners LLC grew its stake in Starbucks by 0.8% in the 4th quarter. Bouvel Investment Partners LLC now owns 22,633 shares of the coffee company’s stock worth $2,647,000 after acquiring an additional 179 shares in the last quarter. United Asset Strategies Inc. bought a new position in Starbucks in the 4th quarter worth about $515,000. Cim LLC grew its stake in Starbucks by 11.6% in the 1st quarter. Cim LLC now owns 4,036 shares of the coffee company’s stock worth $326,000 after acquiring an additional 420 shares in the last quarter. Whittier Trust Co. grew its stake in Starbucks by 5.0% in the 4th quarter. Whittier Trust Co. now owns 285,124 shares of the coffee company’s stock worth $33,350,000 after acquiring an additional 13,493 shares in the last quarter. Finally, Greystone Financial Group LLC grew its stake in Starbucks by 30.5% in the 4th quarter. Greystone Financial Group LLC now owns 78,548 shares of the coffee company’s stock worth $9,188,000 after acquiring an additional 18,364 shares in the last quarter. Institutional investors and hedge funds own 69.21% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Guggenheim dropped their price objective on shares of Starbucks from $95.00 to $87.00 in a research note on Wednesday, April 13th. Credit Suisse Group dropped their price objective on shares of Starbucks from $122.00 to $103.00 in a research note on Wednesday, May 4th. Barclays dropped their price objective on shares of Starbucks from $108.00 to $94.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Starbucks from $116.00 to $103.00 in a research note on Monday, May 9th. Finally, Wedbush downgraded shares of Starbucks from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $91.00 in a research note on Tuesday, April 5th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $102.72.

Shares of NASDAQ:SBUX traded up $0.48 during midday trading on Thursday, reaching $73.78. The company’s stock had a trading volume of 47,863 shares, compared to its average volume of 8,485,222. The firm has a market capitalization of $84.62 billion, a PE ratio of 19.65, a P/E/G ratio of 2.15 and a beta of 0.97. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $126.32. The stock has a fifty day moving average of $75.53 and a 200 day moving average of $89.88.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.60 billion. Starbucks had a negative return on equity of 53.43% and a net margin of 14.07%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 EPS. Equities analysts predict that Starbucks Co. will post 2.89 EPS for the current year.

In other news, CEO Howard D. Schultz purchased 137,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were bought at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the completion of the transaction, the chief executive officer now owns 19,534,460 shares in the company, valued at $1,419,569,208.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard D. Schultz purchased 72,500 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the transaction, the chief executive officer now owns 19,606,960 shares of the company’s stock, valued at approximately $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.

Starbucks Profile (Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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