BB&T Corp decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 25.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,143 shares of the coffee company’s stock after selling 13,012 shares during the quarter. BB&T Corp’s holdings in Starbucks were worth $1,995,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. boosted its position in Starbucks by 1.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 116,546 shares of the coffee company’s stock valued at $6,258,000 after buying an additional 1,268 shares during the period. Whittier Trust Co. lifted its position in shares of Starbucks by 3.2% in the 3rd quarter. Whittier Trust Co. now owns 331,133 shares of the coffee company’s stock worth $17,782,000 after purchasing an additional 10,399 shares during the period. Sanders Morris Harris LLC bought a new position in shares of Starbucks during the 3rd quarter worth approximately $4,286,000. Alpha Cubed Investments LLC raised its stake in shares of Starbucks by 24.9% during the 3rd quarter. Alpha Cubed Investments LLC now owns 46,442 shares of the coffee company’s stock worth $2,494,000 after acquiring an additional 9,267 shares in the last quarter. Finally, Alta Capital Management LLC increased its stake in Starbucks by 1.5% during the 3rd quarter. Alta Capital Management LLC now owns 594,442 shares of the coffee company’s stock valued at $31,927,000 after purchasing an additional 8,844 shares in the last quarter. Institutional investors own 70.67% of the company’s stock.
A number of brokerages have issued reports on SBUX. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price target on shares of Starbucks in a research note on Friday, January 5th. Robert W. Baird cut their price objective on shares of Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Mizuho reissued a “buy” rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Credit Suisse Group lowered their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Finally, Stephens reissued an “equal weight” rating and set a $52.00 price target (down from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average price target of $63.23.
Starbucks Co. (NASDAQ:SBUX) traded up $0.40 during trading on Friday, hitting $60.40. 6,981,042 shares of the company traded hands, compared to its average volume of 8,310,000. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, a PEG ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts forecast that Starbucks Co. will post 2.34 earnings per share for the current fiscal year.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 over the last quarter. Insiders own 3.40% of the company’s stock.
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Starbucks Company Profile
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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