WestEnd Advisors LLC Decreases Position in Starbucks Co. (SBUX)

WestEnd Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 7.7% during the third quarter, Holdings Channel reports. The institutional investor owned 852,865 shares of the coffee company’s stock after selling 70,658 shares during the period. Starbucks comprises approximately 4.0% of WestEnd Advisors LLC’s investment portfolio, making the stock its 16th biggest position. WestEnd Advisors LLC’s holdings in Starbucks were worth $45,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. High Pointe Capital Management LLC boosted its holdings in Starbucks by 29.6% in the 3rd quarter. High Pointe Capital Management LLC now owns 12,220 shares of the coffee company’s stock valued at $656,000 after purchasing an additional 2,790 shares during the period. Bessemer Group Inc. boosted its holdings in Starbucks by 58.9% in the 3rd quarter. Bessemer Group Inc. now owns 21,974 shares of the coffee company’s stock valued at $1,179,000 after purchasing an additional 8,146 shares during the period. Bradley Foster & Sargent Inc. CT boosted its holdings in Starbucks by 5.6% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 198,689 shares of the coffee company’s stock valued at $10,672,000 after purchasing an additional 10,452 shares during the period. Roffman Miller Associates Inc. PA boosted its holdings in Starbucks by 5.5% in the 3rd quarter. Roffman Miller Associates Inc. PA now owns 308,456 shares of the coffee company’s stock valued at $16,567,000 after purchasing an additional 16,133 shares during the period. Finally, Swiss National Bank boosted its holdings in Starbucks by 0.4% in the 3rd quarter. Swiss National Bank now owns 5,873,744 shares of the coffee company’s stock valued at $315,479,000 after purchasing an additional 22,100 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.

A number of analysts have issued reports on SBUX shares. UBS Group cut their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley boosted their price objective on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a report on Thursday, November 2nd. Finally, Deutsche Bank cut their price objective on shares of Starbucks to $62.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $63.23.

Shares of Starbucks Co. (SBUX) opened at $59.61 on Monday. Starbucks Co. has a twelve month low of $52.58 and a twelve 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 firm has a market cap of $84,810.00, a P/E ratio of 30.26, a PEG ratio of 1.61 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. research analysts forecast that Starbucks Co. will post 2.34 earnings per share for the current year.

In related news, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by insiders.

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Starbucks 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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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