Toronto Dominion Bank raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 569,082 shares of the coffee company’s stock after purchasing an additional 72,051 shares during the period. Toronto Dominion Bank’s holdings in Starbucks were worth $30,562,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after acquiring an additional 1,953,003 shares during the period. Capital World Investors lifted its holdings in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after acquiring an additional 895,432 shares during the period. Northern Trust Corp lifted its holdings in shares of Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after acquiring an additional 1,060,298 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after acquiring an additional 1,809,166 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of 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 worth $809,917,000 after acquiring an additional 13,452,551 shares during the period. 70.67% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction on 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 sale, the insider now directly owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Co. (NASDAQ SBUX) opened at $59.82 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The stock has a market cap of $85,110.00, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ 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 period 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 research analysts predict that Starbucks Co. will post 2.34 earnings per share for the current year.
SBUX has been the subject of a number of recent analyst reports. Bank of America reaffirmed a “neutral” rating and set a $65.00 price target on shares of Starbucks in a report on Thursday, September 14th. Stephens reaffirmed an “equal weight” rating and set a $52.00 price target (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Stifel Nicolaus initiated coverage on shares of Starbucks in a report on Tuesday, October 3rd. They set a “hold” rating and a $58.00 price target for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 price target on shares of Starbucks in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $63.23.
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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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