Starbucks Co. (SBUX) Holdings Lifted by Bingham Osborn & Scarborough LLC
Bingham Osborn & Scarborough LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 55.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,272 shares of the coffee company’s stock after acquiring an additional 5,457 shares during the period. Bingham Osborn & Scarborough LLC’s holdings in Starbucks were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of SBUX. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 1,953,003 shares in the last quarter. Capital World Investors lifted its holdings 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 purchasing an additional 895,432 shares in the last quarter. Northern Trust Corp lifted its holdings 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 purchasing an additional 1,060,298 shares in the last quarter. Magellan Asset Management Ltd lifted its holdings in shares of Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings 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 purchasing an additional 1,809,166 shares in the last quarter. Hedge funds and other institutional investors own 70.67% of the company’s stock.
A number of analysts have recently commented on the company. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price target on the stock. in a report on Monday. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Friday. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Tigress Financial restated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Finally, Morgan Stanley boosted their price target on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. One 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 company’s stock. The stock has an average rating of “Buy” and an average target price of $63.23.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. analysts expect that Starbucks Co. will post 2.34 EPS for the current fiscal year.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the business’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 in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,808 shares of company stock worth $28,559,521. Company insiders own 3.40% of the company’s stock.
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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