Montag A & Associates Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,388 shares of the coffee company’s stock after selling 5,182 shares during the period. Montag A & Associates Inc.’s holdings in Starbucks were worth $1,256,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its position in shares of Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Starbucks during the 2nd quarter valued at about $128,000. Aviance Capital Management LLC purchased a new position in shares of Starbucks during the 2nd quarter valued at about $146,000. Finally, Mountain Capital Investment Advisors Inc purchased a new position in Starbucks in the 2nd quarter worth approximately $158,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on SBUX. Stephens reissued an “equal weight” rating and issued 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 reissued 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 research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $63.23.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.70 billion for 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 for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. equities research analysts predict that Starbucks Co. will post 2.34 earnings per share for the current fiscal year.
In other news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock worth $28,559,521 over the last ninety days. 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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