DekaBank Deutsche Girozentrale trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,038,393 shares of the coffee company’s stock after selling 6,725 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of Starbucks worth $55,868,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after buying an additional 129 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after buying an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Starbucks in the second quarter worth $128,000. Aviance Capital Management LLC acquired a new stake in shares of Starbucks in the second quarter worth $146,000. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Starbucks in the second quarter worth $153,000. 70.67% of the stock is owned by institutional investors.
Starbucks Co. (NASDAQ SBUX) opened at $60.40 on Friday. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The stock has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, 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 (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 EPS. The business’s revenue was down .2% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.34 earnings per share for the current year.
In other news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction dated 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. In the last ninety days, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.
A number of analysts have recently weighed in on SBUX shares. Vetr upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective for the company in a research note on Tuesday, November 14th. Nomura reduced 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 started coverage on shares of Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating for the company. Mizuho restated a “buy” rating and issued a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Finally, Credit Suisse Group restated a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.23.
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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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