Oliver Luxxe Assets LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 17.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,752 shares of the coffee company’s stock after purchasing an additional 2,176 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Starbucks were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Harrington Investments INC acquired a new position in shares of Starbucks during the 3rd quarter worth approximately $2,582,000. Rand Wealth LLC raised its holdings in Starbucks by 3.2% in the 3rd quarter. Rand Wealth LLC now owns 41,046 shares of the coffee company’s stock valued at $2,205,000 after acquiring an additional 1,266 shares during the last quarter. Personal Capital Advisors Corp raised its holdings in Starbucks by 9.9% in the 3rd quarter. Personal Capital Advisors Corp now owns 406,143 shares of the coffee company’s stock valued at $21,814,000 after acquiring an additional 36,537 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Starbucks by 1.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 116,546 shares of the coffee company’s stock valued at $6,258,000 after acquiring an additional 1,268 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Starbucks by 3.2% in the 3rd quarter. Whittier Trust Co. now owns 331,133 shares of the coffee company’s stock valued at $17,782,000 after acquiring an additional 10,399 shares during the last quarter. 70.67% of the stock is currently owned by institutional investors.
In related news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 56,666 shares in the company, valued at approximately $3,214,662.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. 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 insiders.
Shares of Starbucks Co. (NASDAQ SBUX) traded up $0.40 during trading hours on Friday, reaching $60.40. 6,980,995 shares of the company were exchanged, compared to its average volume of 8,310,000. The company has a market capitalization of $85,940.00, a PE ratio of 30.66, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.
Starbucks (NASDAQ:SBUX) last issued its 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 net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. research analysts predict that Starbucks Co. will post 2.37 earnings per share for the current fiscal year.
SBUX has been the subject of several analyst reports. UBS Group cut their price target on Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley upped their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target for the company. in a research report on Thursday, November 2nd. Finally, Deutsche Bank decreased their price objective on shares of Starbucks to $62.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $63.23.
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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