Hexavest Inc. acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 605,187 shares of the coffee company’s stock, valued at approximately $44,990,000.

Several other institutional investors also recently bought and sold shares of SBUX. HC Financial Advisors Inc. raised its stake in Starbucks by 233.5% during the third quarter. HC Financial Advisors Inc. now owns 27,445 shares of the coffee company’s stock worth $1,560,000 after purchasing an additional 19,215 shares during the period. Thrivent Financial for Lutherans raised its stake in Starbucks by 2.3% during the third quarter. Thrivent Financial for Lutherans now owns 59,253 shares of the coffee company’s stock worth $3,368,000 after purchasing an additional 1,307 shares during the period. Glenmede Trust Co. NA raised its stake in Starbucks by 31.7% during the third quarter. Glenmede Trust Co. NA now owns 119,960 shares of the coffee company’s stock worth $6,817,000 after purchasing an additional 28,845 shares during the period. Resources Management Corp CT ADV purchased a new position in Starbucks during the third quarter worth approximately $134,000. Finally, Koshinski Asset Management Inc. raised its stake in Starbucks by 69.3% during the third quarter. Koshinski Asset Management Inc. now owns 10,599 shares of the coffee company’s stock worth $602,000 after purchasing an additional 4,339 shares during the period. 73.34% of the stock is currently owned by institutional investors.

SBUX has been the topic of a number of recent analyst reports. Mizuho set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Thursday, April 11th. BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Bank of America set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Friday, January 25th. BMO Capital Markets cut their price target on shares of Starbucks to $60.00 and set a “market perform” rating on the stock in a research note on Friday, January 11th. They noted that the move was a valuation call. Finally, Wedbush reaffirmed a “hold” rating and set a $70.00 price target on shares of Starbucks in a research note on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $69.08.

In related news, EVP Vivek C. Varma sold 73,242 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $68.36, for a total transaction of $5,006,823.12. Following the completion of the sale, the executive vice president now directly owns 140,882 shares of the company’s stock, valued at approximately $9,630,693.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Culver sold 169,096 shares of the firm’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $68.81, for a total transaction of $11,635,495.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 565,806 shares of company stock valued at $38,789,988. Company insiders own 3.98% of the company’s stock.

Shares of SBUX stock opened at $76.06 on Friday. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $76.95. The company has a current ratio of 1.41, a quick ratio of 1.16 and a debt-to-equity ratio of 7.73. The firm has a market capitalization of $94.59 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.10. Starbucks had a net margin of 11.98% and a return on equity of 193.00%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 2.72 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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