APG Asset Management N.V. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,245,319 shares of the coffee company’s stock after buying an additional 216,902 shares during the quarter. APG Asset Management N.V. owned approximately 0.22% of Starbucks worth $174,306,000 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. Farmers & Merchants Investments Inc. boosted its position in Starbucks by 7.6% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 140,898 shares of the coffee company’s stock valued at $7,568,000 after buying an additional 9,953 shares during the period. First Financial Bank Trust Division lifted its position in shares of Starbucks by 6.8% in the 3rd quarter. First Financial Bank Trust Division now owns 81,246 shares of the coffee company’s stock worth $4,363,000 after purchasing an additional 5,178 shares during the period. Honkamp Krueger Financial Services Inc. lifted its position in shares of Starbucks by 33.6% in the 3rd quarter. Honkamp Krueger Financial Services Inc. now owns 7,751 shares of the coffee company’s stock worth $416,000 after purchasing an additional 1,950 shares during the period. Murphy Capital Management Inc. lifted its position in shares of Starbucks by 3.1% in the 3rd quarter. Murphy Capital Management Inc. now owns 82,915 shares of the coffee company’s stock worth $4,453,000 after purchasing an additional 2,460 shares during the period. Finally, Merriman Wealth Management LLC lifted its position in shares of Starbucks by 33.3% in the 3rd quarter. Merriman Wealth Management LLC now owns 33,111 shares of the coffee company’s stock worth $1,778,000 after purchasing an additional 8,268 shares during the period. Institutional investors own 70.67% of the company’s stock.
A number of brokerages have issued reports on SBUX. Deutsche Bank restated a “buy” rating and set a $67.00 price target on shares of Starbucks in a research note on Monday, October 9th. Piper Jaffray Companies set a $70.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Mizuho reiterated a “buy” rating and issued a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a report on Thursday, November 2nd. Finally, Nomura lowered their price target on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. 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. (SBUX) traded up $0.40 during trading hours on Friday, hitting $60.40. 6,981,042 shares of the stock were exchanged, compared to its average volume of 8,310,000. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The firm has a market cap of $85,940.00, a PE ratio of 30.66, a PEG ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ 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 analysts’ expectations of $5.81 billion. During the same period in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. analysts forecast that Starbucks Co. will post 2.34 EPS for the current year.
In related news, Director Javier G. Teruel sold 62,966 shares of the business’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 is available through this link. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, 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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