Pictet & Cie Europe SA reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 121,654 shares of the coffee company’s stock after selling 12,241 shares during the quarter. Pictet & Cie Europe SA’s holdings in Starbucks were worth $6,534,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in SBUX. Jacobi Capital Management LLC increased its holdings in 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 purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. increased its holdings in 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 purchasing an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Starbucks during the 2nd quarter worth approximately $128,000. Aviance Capital Management LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $146,000. Finally, MPS Loria Financial Planners LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $153,000. Institutional investors and hedge funds own 70.72% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) opened at $60.56 on Wednesday. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The stock has a market capitalization of $86,160.00, a P/E ratio of 30.74, a P/E/G ratio of 1.64 and a beta of 0.76. 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 (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. equities analysts forecast that Starbucks Co. will post 2.37 earnings per share for the current fiscal year.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction 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 owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock valued at $28,559,521 in the last 90 days. Insiders own 3.40% of the company’s stock.
SBUX has been the topic of several analyst reports. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective on the stock in a report on Tuesday, November 14th. Nomura dropped their price objective on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Tigress Financial initiated coverage on Starbucks in a report on Wednesday, December 27th. They set a “buy” rating on the stock. Mizuho restated a “buy” rating and set a $75.00 price objective on shares of Starbucks in a report on Friday, September 29th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. 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 assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $63.36.
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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