Moloney Securities Asset Management LLC Buys New Position in Starbucks Co. (SBUX)

Moloney Securities Asset Management LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,215 shares of the coffee company’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Capital World Investors increased its stake in Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock worth $1,878,530,000 after buying an additional 8,071,610 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Starbucks by 136.4% in the third quarter. Ameriprise Financial Inc. now owns 10,310,495 shares of the coffee company’s stock worth $558,015,000 after buying an additional 5,949,819 shares during the last quarter. Vontobel Asset Management Inc. increased its stake in Starbucks by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Starbucks during the fourth quarter worth $172,717,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Starbucks during the third quarter worth $127,161,000. 68.49% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Shares of Starbucks Co. (NASDAQ:SBUX) traded up 0.88% on Friday, reaching $60.61. The company’s stock had a trading volume of 8,390,935 shares. Starbucks Co. has a 12-month low of $50.84 and a 12-month high of $60.69. The company has a market cap of $88.33 billion, a P/E ratio of 31.08 and a beta of 0.79. The company’s 50 day moving average price is $56.93 and its 200 day moving average price is $56.20.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.85 billion. Starbucks had a net margin of 13.30% and a return on equity of 51.45%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.46 earnings per share. Analysts forecast that Starbucks Co. will post $2.13 EPS for the current fiscal year.

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A number of analysts have recently weighed in on the company. BMO Capital Markets set a $62.00 target price on Starbucks and gave the company a “buy” rating in a research report on Saturday, January 28th. Piper Jaffray Companies set a $64.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Saturday, January 28th. Zacks Investment Research downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Friday. Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Starbucks in a research report on Monday, March 13th. Finally, Telsey Advisory Group assumed coverage on Starbucks in a research report on Monday, March 27th. They set an “outperform” rating and a $66.00 price objective for the company. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $64.30.

In related news, Director Joshua Cooper Ramo sold 5,868 shares of the business’s stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $55.23, for a total transaction of $324,089.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.40% of the stock is owned by insiders.

About Starbucks

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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