Ipswich Investment Management Co. Inc. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,471 shares of the coffee company’s stock after acquiring an additional 615 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Starbucks were worth $878,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lake Point Wealth Management bought a new stake in Starbucks during the 4th quarter worth about $25,000. Cowen Prime Services LLC bought a new stake in Starbucks during the 1st quarter worth about $26,000. Paragon Capital Management LLC acquired a new position in shares of Starbucks during the 1st quarter worth about $29,000. C J Advisory Inc acquired a new position in shares of Starbucks during the 1st quarter worth about $34,000. Finally, Somerset Trust Co increased its stake in shares of Starbucks by 159.2% during the 1st quarter. Somerset Trust Co now owns 819 shares of the coffee company’s stock worth $61,000 after purchasing an additional 503 shares during the last quarter. 71.63% of the stock is currently owned by institutional investors and hedge funds.

SBUX traded down $0.81 on Tuesday, reaching $90.11. The company had a trading volume of 6,932,490 shares, compared to its average volume of 9,047,937. Starbucks Co. has a fifty-two week low of $50.21 and a fifty-two week high of $91.61. The firm has a market cap of $109.37 billion, a PE ratio of 37.24, a P/E/G ratio of 2.53 and a beta of 0.55. The firm’s fifty day simple moving average is $85.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the business earned $0.53 EPS. Starbucks’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 2.78 earnings per share for the current year.

Several research analysts have recently weighed in on SBUX shares. Wells Fargo & Co set a $95.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research note on Friday, April 26th. Credit Suisse Group started coverage on shares of Arco Platform in a research note on Tuesday, June 25th. They set a “neutral” rating on the stock. OTR Global lowered shares of Check Point Software Technologies to a “positive” rating in a research note on Tuesday, July 16th. Bank of America set a $275.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Barclays set a $46.00 price objective on shares of D. R. Horton and gave the stock a “buy” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $79.95.

In related news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $84.64, for a total value of $844,114.72. Following the transaction, the director now owns 28,390 shares in the company, valued at approximately $2,402,929.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Culver sold 63,937 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,883 shares of company stock worth $7,422,903. 3.98% of the stock is owned by company insiders.

Starbucks Company 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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