Bank Pictet & Cie Asia Ltd. raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 66,343 shares of the coffee company’s stock after purchasing an additional 5,932 shares during the quarter. Starbucks makes up approximately 1.7% of Bank Pictet & Cie Asia Ltd.’s investment portfolio, making the stock its 18th largest holding. Bank Pictet & Cie Asia Ltd.’s holdings in Starbucks were worth $3,563,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Jacobi Capital Management LLC grew its position in shares of Starbucks by 6.9% during 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 during the period. Valley National Advisers Inc. grew its position in shares of Starbucks by 2.8% during 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 during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $128,000. Aviance Capital Management LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $146,000. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $158,000. 70.72% of the stock is owned by institutional investors and hedge funds.
Starbucks Co. (SBUX) opened at $60.56 on Wednesday. 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 52 week low of $52.58 and a 52 week high of $64.87. The firm has a market capitalization of $86,160.00, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.64 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, meeting the consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business earned $0.56 EPS. The business’s revenue was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Co. will post 2.37 earnings per share for the current year.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 56,666 shares in the company, valued at $3,214,662.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 497,808 shares of company stock worth $28,559,521. Company insiders own 3.40% of the company’s stock.
SBUX has been the subject of several recent analyst reports. Mizuho set a $75.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Deutsche Bank reaffirmed a “buy” rating and set a $67.00 price objective on shares of Starbucks in a research report on Monday, October 9th. Piper Jaffray Companies set a $70.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a research report on Thursday, November 2nd. Finally, 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. One investment 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $63.36.
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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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