Meiji Yasuda Asset Management Co Ltd. Purchases 2,460 Shares of Starbucks Co. (SBUX)
Meiji Yasuda Asset Management Co Ltd. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 94,861 shares of the coffee company’s stock after purchasing an additional 2,460 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Starbucks were worth $5,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 6.9% in 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 during the period. Valley National Advisers Inc. boosted its holdings in shares of Starbucks by 2.8% in 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 during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Starbucks in the second quarter worth $128,000. Aviance Capital Management LLC bought a new position in shares of Starbucks in the second quarter worth $146,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Starbucks in the second quarter worth $153,000. 70.72% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the company. Barclays reaffirmed an “equal weight” rating and issued a $65.00 price target (up from $58.00) on shares of Starbucks in a report on Tuesday. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price target for the company. in a report on Monday, January 8th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Friday, January 5th. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $63.36.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $61.09 on Friday. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The firm has a market capitalization of $86,307.05, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.65 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts forecast that Starbucks Co. will post 2.37 EPS for the current fiscal year.
In other Starbucks news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the sale, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction dated 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 transaction, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 in the last 90 days. Company insiders own 3.40% of the company’s stock.
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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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