First Dallas Securities Inc. Invests $489,000 in Starbucks Co. (SBUX) Stock

First Dallas Securities Inc. purchased a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,107 shares of the coffee company’s stock, valued at approximately $489,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Starbucks by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares in the last quarter. Parnassus Investments CA bought a new stake in shares of Starbucks in the third quarter worth $498,863,000. Renaissance Technologies LLC lifted its position in shares of Starbucks by 539.2% in the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after purchasing an additional 3,305,700 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Starbucks by 3,007.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock worth $111,069,000 after purchasing an additional 1,843,500 shares in the last quarter. 70.67% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Co. (NASDAQ:SBUX) opened at $60.40 on Monday. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market cap of $85,940.00, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. 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 released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company posted $0.56 earnings per share. Starbucks’s revenue was down .2% compared to the same quarter last year. equities research analysts predict that Starbucks Co. will post 2.37 EPS for the current year.

In related news, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on SBUX shares. UBS Group cut their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley boosted their price objective on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective on the stock. in a research report on Thursday, November 2nd. Finally, Deutsche Bank cut their price objective on shares of Starbucks to $62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. One research 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 company. The stock has an average rating of “Buy” and an average target price of $63.23.

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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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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