Marcus Capital LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 37.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,881 shares of the coffee company’s stock after selling 19,469 shares during the period. Starbucks comprises approximately 2.5% of Marcus Capital LLC’s holdings, making the stock its 19th largest position. Marcus Capital LLC’s holdings in Starbucks were worth $1,766,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in SBUX. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Starbucks during the second quarter worth approximately $128,000. Aviance Capital Management LLC acquired a new stake in shares of Starbucks during the second quarter worth approximately $146,000. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Starbucks during the second quarter worth approximately $153,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at $594,444.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the transaction, the insider now directly owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 over the last 90 days. 3.40% of the stock is owned by corporate insiders.
Several research firms recently commented on SBUX. Stephens restated an “equal weight” rating and set a $52.00 price target (down from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Credit Suisse Group decreased their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. OTR Global upgraded shares of Starbucks to a “positive” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One equities 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 company. The company currently has an average rating of “Buy” and a consensus target price of $63.23.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $60.40 on Friday. 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 one year low of $52.58 and a one year high of $64.87. The firm has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, a PEG ratio of 1.60 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. research analysts anticipate that Starbucks Co. will post 2.37 EPS for the current fiscal year.
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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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