Farmers & Merchants Investments Inc. raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,898 shares of the coffee company’s stock after purchasing an additional 9,953 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Starbucks were worth $7,568,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd increased its position in Starbucks by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Starbucks by 3,076.5% during the second 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 period. Renaissance Technologies LLC boosted its stake in shares of Starbucks by 539.2% during the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares during the period. Vanguard Group Inc. boosted its stake in shares of Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Starbucks by 3,007.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after purchasing an additional 1,843,500 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.
A number of analysts have recently issued reports on SBUX shares. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 target price for the company in a research note on Tuesday, November 14th. Nomura lowered their price objective on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Tigress Financial initiated coverage on shares of Starbucks in a research report on Wednesday, December 27th. They set a “buy” rating for the company. Mizuho reissued a “buy” rating and set a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. One investment 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’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.23.
Shares of Starbucks Co. (NASDAQ SBUX) traded up $0.18 during trading hours on Thursday, hitting $60.00. The company had a trading volume of 5,787,500 shares, compared to its average volume of 8,440,000. The firm has a market cap of $85,370.00, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. sell-side analysts expect that Starbucks Co. will post 2.34 EPS for the current year.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock valued at $28,559,521 in the last quarter. Company 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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