BTC Capital Management Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 42.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,746 shares of the coffee company’s stock after selling 4,991 shares during the period. BTC Capital Management Inc.’s holdings in Starbucks were worth $363,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Financial Equity Corporation acquired a new position in shares of Starbucks in the 1st quarter valued at about $1,131,000. Bfsg LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $2,526,000. Salem Investment Counselors Inc. increased its holdings in shares of Starbucks by 3.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 127,800 shares of the coffee company’s stock valued at $7,427,000 after purchasing an additional 3,665 shares during the period. Bath Savings Trust Co increased its holdings in shares of Starbucks by 2.7% in the 2nd quarter. Bath Savings Trust Co now owns 139,635 shares of the coffee company’s stock valued at $8,142,000 after purchasing an additional 3,700 shares during the period. Finally, Private Asset Management Inc. increased its holdings in shares of Starbucks by 2.0% in the 2nd quarter. Private Asset Management Inc. now owns 138,920 shares of the coffee company’s stock valued at $8,100,000 after purchasing an additional 2,731 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Vetr downgraded Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price on the stock. in a report on Monday. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 target price on shares of Starbucks in a report on Friday, January 5th. Tigress Financial reiterated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, UBS Group set a $64.00 target price on Starbucks and gave the company a “buy” rating in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.23.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. equities analysts forecast 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 company’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last ninety days. Company insiders own 3.40% of the company’s stock.
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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