Tocqueville Asset Management L.P. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 461,622 shares of the coffee company’s stock after selling 16,745 shares during the period. Tocqueville Asset Management L.P.’s holdings in Starbucks were worth $24,794,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SBUX. Jacobi Capital Management LLC lifted its holdings in Starbucks by 6.9% in the 2nd 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 in the last quarter. IHT Wealth Management LLC lifted its holdings in Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Starbucks by 2.8% in the 2nd 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 in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Starbucks in the 2nd quarter worth $128,000. Finally, Kings Point Capital Management lifted its holdings in Starbucks by 22.5% in the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after buying an additional 425 shares in the last quarter. 70.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks Co. (SBUX) opened at $60.40 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The firm has a market cap of $85,940.00, a PE ratio of 30.66, a P/E/G ratio of 1.60 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share 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 business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. research analysts expect that Starbucks Co. will post 2.37 earnings per share for the current year.
SBUX has been the topic of a number of recent analyst reports. Stephens reiterated an “equal weight” rating and issued a $52.00 price objective (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 reiterated a “buy” rating and issued a $75.00 price objective 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 issued a “hold” rating and a $58.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $62.00 price objective on shares of Starbucks in a report on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.23.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the transaction, the director now owns 56,666 shares in the company, valued at approximately $3,214,662.18. The transaction was disclosed in a legal filing with the SEC, which is available 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 90 days, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is 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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