Bradley Foster & Sargent Inc. CT Has $10.67 Million Holdings in Starbucks Co. (SBUX)
Bradley Foster & Sargent Inc. CT raised its stake in Starbucks Co. (NASDAQ:SBUX) by 5.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 198,689 shares of the coffee company’s stock after buying an additional 10,452 shares during the period. Bradley Foster & Sargent Inc. CT owned 137.61% of Starbucks worth $10,672,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Janus Henderson Group PLC lifted 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 valued at $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Parnassus Investments CA acquired a new position in shares of Starbucks in the 3rd quarter valued at $498,863,000. Renaissance Technologies LLC lifted its stake in shares of Starbucks by 539.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Institutional investors own 70.67% of the company’s stock.
Starbucks Co. (NASDAQ:SBUX) opened at $59.61 on Monday. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $84,810.00, a PE ratio of 30.26, a P/E/G ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Starbucks’s revenue was down .2% on a year-over-year basis. analysts forecast that Starbucks Co. will post 2.34 earnings per share for the current year.
SBUX has been the topic of several recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and issued a $67.00 price target on shares of Starbucks in a research note on Monday, October 9th. Piper Jaffray Companies set a $70.00 price target on Starbucks and gave the company a “buy” rating in a research note on Wednesday, October 11th. Mizuho reaffirmed a “buy” rating and issued a $75.00 price target on shares of Starbucks in a research note on Friday, September 29th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a research note on Thursday, November 2nd. Finally, Nomura decreased their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. 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 issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $63.23.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction dated 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. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 in the last ninety days. 3.40% of the stock is owned by corporate insiders.
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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