Weatherly Asset Management L. P. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,111 shares of the coffee company’s stock after selling 3,700 shares during the period. Starbucks makes up 2.3% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 8th largest holding. Weatherly Asset Management L. P.’s holdings in Starbucks were worth $8,707,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares during the last quarter. IHT Wealth Management LLC increased its holdings in Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Starbucks during the second quarter valued at approximately $128,000. Finally, Kings Point Capital Management increased its holdings in Starbucks by 22.5% during the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock valued at $135,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $60.00 on Friday. The stock has a market cap of $85,370.00, a PE ratio of 30.46, a PEG 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 twelve month low of $52.58 and a twelve month 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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate 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 net margin of 12.89% and a return on equity of 53.34%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.56 EPS. research analysts expect that Starbucks Co. will post 2.34 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on SBUX. Bank of America reissued a “neutral” rating and issued a $65.00 price objective on shares of Starbucks in a research note on Thursday, September 14th. Stephens reissued an “equal weight” rating and issued a $52.00 price objective (down from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Mizuho reissued a “buy” rating and issued a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Stifel Nicolaus began coverage on shares of Starbucks in a research note on Tuesday, October 3rd. They issued a “hold” rating and a $58.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and issued a $62.00 price objective on shares of Starbucks in a research note on Wednesday, October 4th. 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 assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $63.23.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 in the last ninety days. 3.40% of the stock is currently owned by insiders.
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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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