Haverford Trust Co. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 925,737 shares of the coffee company’s stock after acquiring an additional 30,207 shares during the quarter. Haverford Trust Co. owned approximately 0.06% of Starbucks worth $49,721,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC lifted its holdings in Starbucks by 45.8% during the 2nd quarter. Northwest Investment Counselors LLC now owns 22,408 shares of the coffee company’s stock worth $1,307,000 after buying an additional 7,036 shares during the period. NN Investment Partners Holdings N.V. lifted its holdings in Starbucks by 6.8% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 94,636 shares of the coffee company’s stock worth $5,519,000 after buying an additional 6,009 shares during the period. Bank of The West lifted its holdings in Starbucks by 17.3% during the 2nd quarter. Bank of The West now owns 83,215 shares of the coffee company’s stock worth $4,852,000 after buying an additional 12,264 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in Starbucks during the 2nd quarter worth about $26,395,000. Finally, Union Bankshares Corp lifted its holdings in Starbucks by 0.4% during the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after buying an additional 14 shares during the period. 70.76% of the stock is currently owned by institutional investors.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock valued at $28,559,521 over the last three months. Corporate insiders own 3.40% of the company’s stock.
SBUX has been the topic of several recent research reports. Vetr raised Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 target price on the stock in a report on Tuesday, November 14th. Nomura cut their target price on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Tigress Financial initiated coverage on Starbucks in a report on Wednesday, December 27th. They set a “buy” rating on the stock. Mizuho reaffirmed a “buy” rating and set a $75.00 target price on shares of Starbucks in a report on Friday, September 29th. Finally, Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $63.88.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $61.41 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The company has a market capitalization of $87,370.00, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.76. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. sell-side analysts predict that Starbucks Co. will post 2.38 earnings per share for the current fiscal year.
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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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