Starbucks Co. (SBUX) Shares Bought by Vaughan David Investments Inc. IL
Vaughan David Investments Inc. IL boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6,254.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,402 shares of the coffee company’s stock after purchasing an additional 290,753 shares during the period. Vaughan David Investments Inc. IL’s holdings in Starbucks were worth $17,432,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SBUX. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Starbucks during the second quarter valued at approximately $128,000. Aviance Capital Management LLC purchased a new stake in Starbucks during the second quarter valued at approximately $146,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Starbucks during the second quarter valued at approximately $158,000. Institutional investors own 70.72% of the company’s stock.
SBUX has been the subject of a number of research reports. Stephens reaffirmed an “equal weight” rating and set a $52.00 target price (down from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and set a $75.00 target price on shares of Starbucks in a report on Friday, September 29th. Stifel Nicolaus initiated coverage on shares of Starbucks in a report on Tuesday, October 3rd. They set a “hold” rating and a $58.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 target price on shares of Starbucks in a report on Wednesday, October 4th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has a consensus rating of “Buy” and a consensus target price of $63.36.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the business earned $0.56 earnings per share. Starbucks’s quarterly revenue was down .2% compared to the same quarter last year. equities research analysts forecast that Starbucks Co. will post 2.37 EPS for the current fiscal year.
In other news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were 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 approximately $594,444.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock valued at $28,559,521 in the last quarter. 3.40% of the stock is owned by company insiders.
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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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