Amundi Pioneer Asset Management Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,664,048 shares of the coffee company’s stock after selling 312,521 shares during the period. Starbucks makes up 1.1% of Amundi Pioneer Asset Management Inc.’s portfolio, making the stock its 21st biggest position. Amundi Pioneer Asset Management Inc. owned about 0.47% of Starbucks worth $357,927,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Capital World Investors grew its stake in shares of Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares during the last quarter. Northern Trust Corp grew its stake in shares of Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after purchasing an additional 1,809,166 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. 70.76% of the stock is currently owned by institutional investors.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. Insiders own 3.40% of the company’s stock.
Several equities analysts have recently issued reports on SBUX shares. UBS Group lowered their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley raised their target price on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a report on Thursday, November 2nd. Finally, Deutsche Bank decreased their target price on shares of Starbucks to $62.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $63.88.
Starbucks Co. (NASDAQ:SBUX) opened at $61.41 on Tuesday. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a market cap of $87,370.00, a P/E ratio of 31.17, a PEG ratio of 1.66 and a beta of 0.76. 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 released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 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 company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts forecast that Starbucks Co. will post 2.38 EPS for the current 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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