Davidson & Garrard Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,756 shares of the coffee company’s stock after purchasing an additional 2,790 shares during the quarter. Davidson & Garrard Inc.’s holdings in Starbucks were worth $3,639,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in SBUX. Cambridge Investment Research Advisors Inc. increased its stake in shares of Starbucks by 2.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 169,396 shares of the coffee company’s stock valued at $9,098,000 after acquiring an additional 4,817 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Starbucks by 3.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,712,816 shares of the coffee company’s stock valued at $145,686,000 after acquiring an additional 102,689 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Starbucks by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,447,223 shares of the coffee company’s stock valued at $238,860,000 after acquiring an additional 72,587 shares during the last quarter. Comgest Global Investors S.A.S. acquired a new position in shares of Starbucks during the 3rd quarter valued at about $3,357,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Starbucks by 0.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 345,321 shares of the coffee company’s stock valued at $18,547,000 after acquiring an additional 2,053 shares during the last quarter. 70.67% of the stock is owned by hedge funds and other institutional investors.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value 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 company insiders.
A number of research analysts have recently commented on the stock. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective for the company. in a research note on Monday, January 8th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Friday, January 5th. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Tigress Financial reiterated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Finally, Morgan Stanley boosted their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus target price of $63.23.
Starbucks Co. (SBUX) opened at $60.40 on Friday. The firm has a market capitalization of $85,940.00, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two 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 released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm 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%. Starbucks’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. equities analysts forecast that Starbucks Co. will post 2.37 earnings per share for the current year.
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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