Barrett Asset Management LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 3,892.4% in the third quarter, HoldingsChannel.com reports. The firm owned 308,015 shares of the coffee company’s stock after buying an additional 300,300 shares during the period. Barrett Asset Management LLC’s holdings in Starbucks were worth $16,543,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Starbucks by 6.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 27,282 shares of the coffee company’s stock valued at $1,465,000 after purchasing an additional 1,676 shares during the period. Norinchukin Bank The grew its holdings in shares of Starbucks by 0.9% in the third quarter. Norinchukin Bank The now owns 671,759 shares of the coffee company’s stock valued at $36,081,000 after purchasing an additional 5,766 shares during the period. D.A. Davidson & CO. grew its holdings in shares of Starbucks by 3.2% in the third quarter. D.A. Davidson & CO. now owns 265,721 shares of the coffee company’s stock valued at $14,271,000 after purchasing an additional 8,132 shares during the period. First Interstate Bank grew its holdings in shares of Starbucks by 13.9% in the third quarter. First Interstate Bank now owns 123,179 shares of the coffee company’s stock valued at $6,616,000 after purchasing an additional 15,005 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Starbucks in the third quarter valued at about $505,000. 70.72% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on SBUX shares. UBS Group dropped their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho set a $75.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley increased their target price 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 lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a research note on Thursday, November 2nd. Finally, Deutsche Bank lowered their target price on shares of Starbucks to $62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks has an average rating of “Buy” and a consensus target price of $63.54.

In related news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock valued at $28,559,521. Insiders own 3.40% of the company’s stock.

Starbucks Co. (SBUX) opened at $61.26 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 12 month low of $52.58 and a 12 month high of $64.87. The company has a market cap of $87,400.00, a P/E ratio of 31.10, a PEG ratio of 1.65 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last posted 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 firm posted $0.56 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. sell-side analysts expect that Starbucks Co. will post 2.38 EPS for the current year.

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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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