Starbucks Co. (SBUX) Shares Sold by QCI Asset Management Inc. NY
QCI Asset Management Inc. NY lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 224,156 shares of the coffee company’s stock after selling 2,673 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Starbucks were worth $12,039,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Middleton & Co Inc MA raised its holdings in Starbucks by 11.8% in the 3rd quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock valued at $5,310,000 after acquiring an additional 10,458 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Starbucks by 29.7% in the 2nd quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock valued at $1,586,000 after acquiring an additional 6,225 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Starbucks by 12.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after acquiring an additional 10,250 shares in the last quarter. Geneva Advisors LLC raised its holdings in Starbucks by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after acquiring an additional 63,041 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in 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 acquiring an additional 13,452,551 shares in the last quarter. 70.67% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on SBUX. Stephens reaffirmed an “equal weight” rating and issued a $52.00 price target (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Credit Suisse Group cut their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. OTR Global raised Starbucks to a “positive” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and an average price target of $63.23.
Shares of Starbucks Co. (SBUX) opened at $59.82 on Thursday. The company has a market capitalization of $85,110.00, a P/E ratio of 30.37, a P/E/G ratio of 1.61 and a beta of 0.76. 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.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. analysts anticipate that Starbucks Co. will post 2.34 earnings per share for the current year.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 497,808 shares of company stock worth $28,559,521. 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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