Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Starbucks Co. (NASDAQ:SBUX) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,510 shares of the coffee company’s stock after purchasing an additional 9,340 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Starbucks were worth $6,741,000 as of its most recent SEC filing.
Other institutional investors have 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 second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after acquiring an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Starbucks during the second quarter worth $128,000. Finally, Aviance Capital Management LLC purchased a new stake in shares of Starbucks during the second quarter worth $146,000. Institutional investors and hedge funds own 70.67% of the company’s stock.
Several research firms have issued reports on SBUX. Piper Jaffray Companies restated a “buy” rating and set a $70.00 target price on shares of Starbucks in a research report on Friday. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Tigress Financial restated a “buy” rating on shares of Starbucks in a research report on Tuesday. Morgan Stanley increased their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 target price on the stock. in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $63.26.
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 Zacks’ consensus estimate of $0.55. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. analysts expect that Starbucks Co. will post 2.33 EPS for the current fiscal year.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction on Wednesday, November 8th. The shares were 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. In the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by insiders.
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Starbucks Company 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.
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