Columbia Asset Management grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,413 shares of the coffee company’s stock after acquiring an additional 10,385 shares during the period. Starbucks comprises 1.3% of Columbia Asset Management’s holdings, making the stock its 26th biggest position. Columbia Asset Management’s holdings in Starbucks were worth $4,265,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Middleton & Co Inc MA raised its position in Starbucks by 11.8% during the third quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock worth $5,310,000 after acquiring an additional 10,458 shares during the period. WINTON GROUP Ltd raised its position in Starbucks by 29.7% during the second quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock worth $1,586,000 after acquiring an additional 6,225 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Starbucks by 12.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after acquiring an additional 10,250 shares during the period. Geneva Advisors LLC raised its position in Starbucks by 2.3% during the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after acquiring an additional 63,041 shares during the period. Finally, Janus Henderson Group PLC raised its position in Starbucks by 3,076.5% during the second 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 currently owned by institutional investors and hedge funds.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $60.40 on Monday. 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 1-year low of $52.58 and a 1-year high of $64.87. The stock has a market cap of $85,940.00, a PE ratio of 30.66, a P/E/G ratio of 1.61 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 (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Starbucks’s quarterly revenue was down .2% on a year-over-year basis. research analysts expect that Starbucks Co. will post 2.37 EPS for the current fiscal year.
A number of equities analysts have 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 report 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 report on Friday, November 3rd. Tigress Financial started coverage on shares of Starbucks in a research report on Wednesday, December 27th. They set a “buy” rating for the company. Mizuho restated a “buy” rating and set a $75.00 price objective on shares of Starbucks in a research report on Friday, September 29th. Finally, Credit Suisse Group restated a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. 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 issued a strong buy rating to the company. Starbucks currently has an average rating of “Buy” and an average target price of $63.23.
In related 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 completion of the sale, 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 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 shares were 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. Insiders sold 497,808 shares of company stock valued at $28,559,521 in the last three months. 3.40% of the stock is currently owned by insiders.
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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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