Cardinal Capital Management Purchases 1,672 Shares of Starbucks Co. (NASDAQ:SBUX)

Cardinal Capital Management increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,144 shares of the coffee company’s stock after acquiring an additional 1,672 shares during the period. Starbucks makes up about 1.2% of Cardinal Capital Management’s holdings, making the stock its 27th biggest position. Cardinal Capital Management’s holdings in Starbucks were worth $8,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Fidelis Capital Partners LLC increased its holdings in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp increased its stake in Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after acquiring an additional 10,092 shares during the last quarter. LRI Investments LLC bought a new position in Starbucks in the 1st quarter worth about $136,000. BNP Paribas purchased a new stake in shares of Starbucks in the 1st quarter valued at about $9,332,000. Finally, Great Valley Advisor Group Inc. boosted its position in shares of Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after acquiring an additional 5,377 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.2 %

SBUX stock opened at $95.27 on Friday. The stock has a market capitalization of $107.96 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.08 and a beta of 0.97. The firm’s 50-day moving average price is $94.47 and its two-hundred day moving average price is $84.69. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 EPS. Starbucks’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $102.44.

About Starbucks

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.