Pacer Advisors Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 13.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,899 shares of the coffee company’s stock after purchasing an additional 7,086 shares during the period. Pacer Advisors Inc.’s holdings in Starbucks were worth $3,217,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Capital World Investors raised its stake in shares of Starbucks by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after acquiring an additional 895,432 shares during the last quarter. Northern Trust Corp raised its stake in shares of Starbucks by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Starbucks by 12.8% in the second quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after acquiring an additional 1,809,166 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Starbucks by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares during the last quarter. Hedge funds and other institutional investors own 70.72% of the company’s stock.
Shares of Starbucks Co. (SBUX) opened at $61.09 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market cap of $86,307.05, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm 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 business earned $0.56 EPS. The business’s quarterly revenue 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 Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks 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 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 ninety days. Company insiders own 3.40% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research note on Friday, January 5th. Barclays reiterated an “equal weight” rating and issued a $65.00 target price (up previously from $58.00) on shares of Starbucks in a research note on Tuesday. Robert W. Baird cut their target price on shares of Starbucks from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of Starbucks in a research note on Friday, September 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $52.00 target price (down previously from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average price target of $63.36.
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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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