Diamond Hill Capital Management Inc. acquired a new stake in Starbucks Co. (NASDAQ:SBUX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,133,081 shares of the coffee company’s stock, valued at approximately $243,910,000. Diamond Hill Capital Management Inc. owned about 0.28% of Starbucks as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Gryphon Financial Partners LLC grew its stake in Starbucks by 96.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after acquiring an additional 2,558 shares during the period. First Eagle Investment Management LLC boosted its position in Starbucks by 0.5% during the fourth quarter. First Eagle Investment Management LLC now owns 50,910 shares of the coffee company’s stock valued at $4,888,000 after purchasing an additional 240 shares during the last quarter. Level Four Advisory Services LLC boosted its position in Starbucks by 14.8% during the fourth quarter. Level Four Advisory Services LLC now owns 10,080 shares of the coffee company’s stock valued at $968,000 after purchasing an additional 1,299 shares during the last quarter. Verity Asset Management Inc. acquired a new position in Starbucks during the fourth quarter valued at approximately $203,000. Finally, Independent Advisor Alliance raised its stake in Starbucks by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 45,337 shares of the coffee company’s stock valued at $4,353,000 after buying an additional 516 shares during the period. Institutional investors own 72.29% of the company’s stock.
Insider Buying and Selling at Starbucks
In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Report on Starbucks
Starbucks Stock Performance
Shares of NASDAQ SBUX opened at $98.57 on Friday. The company has a market cap of $111.65 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.35 and a beta of 0.96. The firm’s fifty day moving average is $84.39 and its two-hundred day moving average is $83.92. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of 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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