Rhumbline Advisers grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,453,180 shares of the coffee company’s stock after buying an additional 40,871 shares during the quarter. Rhumbline Advisers owned 0.17% of Starbucks worth $131,760,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Middleton & Co Inc MA grew its holdings in Starbucks by 11.8% during the 3rd quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock valued at $5,310,000 after purchasing an additional 10,458 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Starbucks by 29.7% during the 2nd quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock valued at $1,586,000 after purchasing an additional 6,225 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Starbucks by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC grew its holdings in Starbucks by 2.3% during the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after purchasing an additional 63,041 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Hedge funds and other institutional investors own 70.72% of the company’s stock.
Several equities analysts recently commented on SBUX shares. Stephens reiterated 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. Mizuho restated a “buy” rating and issued a $75.00 target price on shares of Starbucks in a research note on Friday, September 29th. Stifel Nicolaus initiated coverage on shares of Starbucks in a research note on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $62.00 target price on shares of Starbucks in a research note on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and a consensus price target of $63.50.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last three months. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Co. (NASDAQ SBUX) traded up $0.13 during trading hours on Friday, reaching $61.23. 3,562,395 shares of the company were exchanged, compared to its average volume of 7,810,000. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The stock has a market capitalization of $87,150.00, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.65 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. Starbucks’s revenue for the quarter was down .2% compared to the same quarter last year. equities analysts anticipate that Starbucks Co. will post 2.37 earnings per share for the current fiscal year.
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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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