Bank of Hawaii grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the 3rd quarter, Holdings Channel reports. The firm owned 39,407 shares of the coffee company’s stock after buying an additional 2,022 shares during the period. Bank of Hawaii owned 27.29% of Starbucks worth $2,117,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC lifted its stake in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. IHT Wealth Management LLC lifted its stake in shares of Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Starbucks in the 2nd quarter valued at $128,000. Finally, Aviance Capital Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $146,000. 70.67% of the stock is currently owned by institutional investors and hedge funds.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by company insiders.
Several equities analysts have recently commented on SBUX shares. OTR Global raised Starbucks to a “positive” rating in a research note on Thursday, October 26th. Morgan Stanley upped their price target on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Bank of America reiterated a “neutral” rating and issued a $65.00 price objective on shares of Starbucks in a report on Thursday, September 14th. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.05 price objective on the stock in a report on Tuesday, November 21st. Finally, Cowen reiterated an “outperform” rating and issued a $62.00 price objective (down previously from $63.00) on shares of Starbucks in a report on Tuesday, October 10th. One investment 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 issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $63.26.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $59.61 on Friday. 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 firm has a market capitalization of $84,810.00, a PE ratio of 30.26, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 EPS. Starbucks’s revenue was down .2% on a year-over-year basis. equities analysts expect that Starbucks Co. will post 2.33 earnings per share for the current year.
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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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