Curbstone Financial Management Corp Boosts Position in Starbucks Co. (NASDAQ:SBUX)

Curbstone Financial Management Corp boosted its position in Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,280 shares of the coffee company’s stock after purchasing an additional 206 shares during the period. Curbstone Financial Management Corp’s holdings in Starbucks were worth $1,216,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quilter Plc bought a new stake in Starbucks during the first quarter valued at about $208,530,000. America First Investment Advisors LLC bought a new stake in shares of Starbucks in the 1st quarter valued at approximately $25,000. Cranbrook Wealth Management LLC bought a new position in shares of Starbucks during the 1st quarter valued at approximately $26,000. Freedom Wealth Alliance LLC bought a new stake in Starbucks in the fourth quarter worth about $26,000. Finally, Princeton Global Asset Management LLC bought a new position in Starbucks in the 1st quarter valued at $29,000. 70.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen reissued an “outperform” rating and set a $117.00 price target on shares of Starbucks in a research report on Wednesday, August 2nd. Barclays dropped their target price on shares of Starbucks from $127.00 to $123.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 2nd. Bank of America increased their price target on shares of Starbucks from $131.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, July 21st. StockNews.com began coverage on Starbucks in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Citigroup lowered their target price on shares of Starbucks from $117.00 to $112.00 and set a “neutral” rating on the stock in a research note on Monday, July 24th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.70.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 679 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $100.60, for a total value of $68,307.40. Following the sale, the chief financial officer now directly owns 54,761 shares of the company’s stock, valued at approximately $5,508,956.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Down 0.2 %

Shares of Starbucks stock traded down $0.19 during mid-day trading on Thursday, hitting $96.74. The stock had a trading volume of 1,210,466 shares, compared to its average volume of 6,200,340. Starbucks Co. has a 12-month low of $82.43 and a 12-month high of $115.48. The firm has a 50-day moving average of $99.19 and a two-hundred day moving average of $101.54. The firm has a market cap of $110.81 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, August 1st. The coffee company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. Starbucks had a net margin of 10.81% and a negative return on equity of 44.46%. The business had revenue of $9.17 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.45 earnings per share for the current year.

About Starbucks

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.