Comgest Global Investors S.A.S. Takes Position in Starbucks Co. (SBUX)

Comgest Global Investors S.A.S. purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,500 shares of the coffee company’s stock, valued at approximately $3,357,000.

Several other institutional investors have also recently made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Starbucks by 0.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 345,321 shares of the coffee company’s stock valued at $18,547,000 after purchasing an additional 2,053 shares in the last quarter. CI Global Investments Inc. purchased a new stake in Starbucks in the third quarter valued at approximately $59,100,000. Sigma Planning Corp raised its stake in Starbucks by 11.0% in the third quarter. Sigma Planning Corp now owns 28,186 shares of the coffee company’s stock valued at $1,514,000 after purchasing an additional 2,800 shares in the last quarter. Bristol Gate Capital Partners Inc. raised its stake in Starbucks by 17.5% in the third quarter. Bristol Gate Capital Partners Inc. now owns 572,030 shares of the coffee company’s stock valued at $30,724,000 after purchasing an additional 84,999 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC raised its stake in Starbucks by 80.3% in the third quarter. Massey Quick Simon & CO. LLC now owns 3,462 shares of the coffee company’s stock valued at $186,000 after purchasing an additional 1,542 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 Friday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The stock has a market cap of $85,940.00, a P/E ratio of 30.66, a PEG ratio of 1.60 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last issued its 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. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the business earned $0.56 earnings per share. The business’s revenue was down .2% on a year-over-year basis. research analysts forecast that Starbucks Co. will post 2.37 EPS for the current fiscal year.

In other news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total value of $16,548,737.28. Following the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction 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. Insiders 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.

SBUX has been the topic of a number of recent analyst reports. UBS Group lowered their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley lifted their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a research note on Thursday, November 2nd. Finally, Deutsche Bank decreased their price target on shares of Starbucks to $62.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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