Alliancebernstein L.P. Has $685.86 Million Stake in Starbucks Co. (SBUX)

Alliancebernstein L.P. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,942,600 shares of the coffee company’s stock after selling 2,688,104 shares during the period. Alliancebernstein L.P. owned 0.85% of Starbucks worth $685,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Taylor Hoffman Wealth Management purchased a new position in shares of Starbucks during the fourth quarter worth about $107,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Starbucks during the third quarter worth about $111,000. Gradient Investments LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $117,000. Horan Capital Advisors LLC. purchased a new position in shares of Starbucks during the third quarter worth about $131,000. Finally, Front Row Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 73.52% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of SBUX stock opened at $58.34 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market capitalization of $82,691.45, a price-to-earnings ratio of 28.32, a P/E/G ratio of 1.63 and a beta of 0.64.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was up 5.9% on a year-over-year basis. equities analysts predict that Starbucks Co. will post 2.49 EPS for the current year.

Several analysts have issued reports on the company. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Tuesday. Vetr raised Starbucks from a “hold” rating to a “buy” rating and set a $59.39 target price for the company in a research note on Tuesday. BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Wedbush lowered Starbucks from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $70.00 to $56.00 in a research note on Thursday, March 29th. Finally, UBS set a $66.00 target price on Starbucks and gave the stock a “buy” rating in a research note on Thursday, March 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $64.05.

In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the sale, the director now owns 26,500 shares in the company, valued at $1,592,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock valued at $14,243,602 in the last quarter. Corporate insiders own 3.40% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/3337124/alliancebernstein-l-p-has-685-86-million-stake-in-starbucks-co-sbux.html.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Etheroll  Trading Up 58.5% Over Last 7 Days
Etheroll Trading Up 58.5% Over Last 7 Days
Contrasting TransMontaigne  & Shell Midstream Partners
Contrasting TransMontaigne & Shell Midstream Partners
Analyzing Superior Uniform Group  & Lululemon Athletica
Analyzing Superior Uniform Group & Lululemon Athletica
Financial Contrast: Aaron’s  and Its Peers
Financial Contrast: Aaron’s and Its Peers
Emerge Energy Services  Receives $13.14 Consensus PT from Brokerages
Emerge Energy Services Receives $13.14 Consensus PT from Brokerages
Zacks: Analysts Anticipate Key Energy Services  to Announce -$1.24 Earnings Per Share
Zacks: Analysts Anticipate Key Energy Services to Announce -$1.24 Earnings Per Share


© 2006-2018 Ticker Report. Google+.