Oppenheimer & Co. Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,018 shares of the coffee company’s stock after selling 3,295 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Starbucks were worth $11,817,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Middleton & Co Inc MA lifted its holdings 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 lifted its holdings 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. lifted its holdings 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 lifted its holdings 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 lifted its holdings 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. Institutional investors own 70.72% of the company’s stock.
In other news, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction on 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 transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by company insiders.
Starbucks Co. (NASDAQ:SBUX) opened at $61.26 on Friday. The firm has a market capitalization of $87,400.00, a price-to-earnings ratio of 31.10, a PEG ratio of 1.65 and a beta of 0.76. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87. 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 (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. analysts anticipate that Starbucks Co. will post 2.38 EPS for the current year.
A number of analysts recently commented on the company. Oppenheimer reiterated a “buy” rating and set a $66.00 price target on shares of Starbucks in a report on Friday. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 target price (up from $66.00) on shares of Starbucks in a research note on Friday. Barclays restated an “equal weight” rating and issued a $65.00 target price (up from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price on the stock. in a research note on Monday, January 8th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research note on Friday, January 5th. One 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 price target of $63.54.
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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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