NN Investment Partners Holdings N.V. Buys 310,925 Shares of Starbucks Co. (SBUX)

NN Investment Partners Holdings N.V. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 611.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 361,750 shares of the coffee company’s stock after buying an additional 310,925 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Starbucks were worth $20,561,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Parnassus Investments CA boosted its stake in shares of Starbucks by 26.8% in the 2nd quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after buying an additional 2,543,697 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Starbucks during the second quarter worth approximately $105,420,000. Magellan Asset Management Ltd lifted its stake in Starbucks by 5.2% during the second quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock worth $1,582,355,000 after purchasing an additional 1,613,187 shares during the last quarter. Fiera Capital Corp lifted its stake in Starbucks by 3,492.3% during the second quarter. Fiera Capital Corp now owns 1,274,578 shares of the coffee company’s stock worth $62,262,000 after purchasing an additional 1,239,097 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Starbucks by 2.0% during the second quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock worth $2,301,661,000 after purchasing an additional 928,175 shares during the last quarter. Institutional investors and hedge funds own 71.86% of the company’s stock.

Several research firms recently weighed in on SBUX. ValuEngine upgraded Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Wells Fargo & Co lifted their price target on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Telsey Advisory Group lifted their price target on Starbucks from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 17th. Finally, Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Starbucks currently has an average rating of “Buy” and a consensus target price of $60.62.

In related news, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $52.70, for a total value of $8,783,298.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rosalind G. Brewer bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The stock was acquired at an average price of $54.04 per share, with a total value of $270,200.00. Following the completion of the purchase, the insider now directly owns 7,302 shares of the company’s stock, valued at approximately $394,600.08. The disclosure for this purchase can be found here. Insiders sold 295,832 shares of company stock worth $15,834,037 over the last 90 days. Company insiders own 3.48% of the company’s stock.

Shares of NASDAQ:SBUX opened at $58.59 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $61.94. The firm has a market capitalization of $78.34 billion, a PE ratio of 28.44, a P/E/G ratio of 1.59 and a beta of 0.60.

Starbucks Profile

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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