Starbucks Co. (SBUX) Holdings Cut by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 44.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,454 shares of the coffee company’s stock after selling 43,989 shares during the quarter. Forsta AP Fonden’s holdings in Starbucks were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. Magellan Asset Management Ltd grew its stake in shares of Starbucks by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after acquiring an additional 18,667,265 shares during the period. Janus Henderson Group PLC boosted its stake in Starbucks by 3,076.5% in the 2nd 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 during the period. Renaissance Technologies LLC boosted its stake in Starbucks by 539.2% in the 2nd 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 during the period. Vanguard Group Inc. boosted its stake in Starbucks by 2.1% in the 2nd 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 during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Starbucks by 3,007.3% in the 2nd 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 during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Starbucks Co. (NASDAQ:SBUX) opened at $57.43 on Monday. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The stock has a market capitalization of $82,250.00, a P/E ratio of 29.15, a P/E/G ratio of 1.57 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.70 billion for 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%. Starbucks’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. analysts predict that Starbucks Co. will post 2.31 earnings per share for the current year.

In other news, insider Howard D. Schultz sold 290,176 shares of Starbucks stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the sale, the insider now directly owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 497,808 shares of company stock worth $28,559,521. Corporate insiders own 3.40% of the company’s stock.

Several brokerages have commented on SBUX. Tigress Financial began coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 target price for the company. in a research note on Monday, November 27th. UBS Group set a $64.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Morgan Stanley raised their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $63.26.

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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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