TCW Group Inc. Sells 55,929 Shares of Starbucks Co. (SBUX)
TCW Group Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 2,572,881 shares of the coffee company’s stock after selling 55,929 shares during the period. TCW Group Inc.’s holdings in Starbucks were worth $138,189,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Jacobi Capital Management LLC lifted its holdings in shares of Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Starbucks during the second quarter valued at $128,000. Aviance Capital Management LLC bought a new position in shares of Starbucks during the second quarter valued at $146,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Starbucks during the second quarter valued at $153,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Co. (NASDAQ SBUX) opened at $60.00 on Friday. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The firm has a market capitalization of $85,370.00, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the 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 the consensus estimate of $5.81 billion. During the same quarter last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. equities research analysts forecast that Starbucks Co. will post 2.34 EPS for the current year.
In other news, SVP Paul Mutty sold 3,000 shares of the firm’s 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 transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at $594,444.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.
A number of brokerages have recently issued reports on SBUX. Stephens reaffirmed an “equal weight” rating and set a $52.00 price target (down 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 lowered their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock 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 analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.23.
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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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