Banque Pictet & Cie SA Has $21.29 Million Position in Starbucks Co. (SBUX)

Banque Pictet & Cie SA increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 396,381 shares of the coffee company’s stock after purchasing an additional 1,034 shares during the quarter. Banque Pictet & Cie SA’s holdings in Starbucks were worth $21,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First American Bank increased its stake in Starbucks by 6.2% during the 2nd quarter. First American Bank now owns 21,222 shares of the coffee company’s stock worth $1,237,000 after buying an additional 1,236 shares in the last quarter. Perkins Coie Trust Co increased its stake in Starbucks by 145.5% during the 2nd quarter. Perkins Coie Trust Co now owns 17,379 shares of the coffee company’s stock worth $1,013,000 after buying an additional 10,299 shares in the last quarter. Evanson Asset Management LLC increased its stake in Starbucks by 32.2% during the 2nd quarter. Evanson Asset Management LLC now owns 6,514 shares of the coffee company’s stock worth $380,000 after buying an additional 1,585 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in Starbucks by 31.3% during the 2nd quarter. Koshinski Asset Management Inc. now owns 6,843 shares of the coffee company’s stock worth $399,000 after buying an additional 1,632 shares in the last quarter. Finally, RB Capital Management LLC increased its stake in Starbucks by 1.4% during the 2nd quarter. RB Capital Management LLC now owns 50,508 shares of the coffee company’s stock worth $2,945,000 after buying an additional 701 shares in the last quarter. 70.72% of the stock is owned by institutional investors.

Several equities research analysts have commented on SBUX shares. Mizuho set a $75.00 price objective on Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Deutsche Bank reiterated a “buy” rating and set a $67.00 price objective on shares of Starbucks in a research note on Monday, October 9th. Piper Jaffray Companies set a $70.00 price objective on Starbucks and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a research note on Thursday, November 2nd. Finally, Nomura dropped their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and a consensus target price of $63.36.

In related news, Director Craig Weatherup sold 56,666 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the transaction, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred on 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 valued at $28,559,521 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Starbucks Co. (SBUX) opened at $60.56 on Wednesday. The firm has a market capitalization of $86,160.00, a P/E ratio of 30.74, a P/E/G ratio of 1.64 and a beta of 0.76. Starbucks Co. has a 52-week low of $52.58 and a 52-week 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.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.70 billion during 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%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. analysts anticipate that Starbucks Co. will post 2.37 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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