Zevin Asset Management LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,896 shares of the coffee company’s stock after selling 3,211 shares during the quarter. Zevin Asset Management LLC’s holdings in Starbucks were worth $3,382,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks in the 3rd quarter worth about $111,000. Jacobi Capital Management LLC increased its position in shares of Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Starbucks during the 3rd quarter valued at about $131,000. Front Row Advisors LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $136,000. Finally, Stonehearth Capital Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $142,000. Institutional investors and hedge funds own 73.63% of the company’s stock.
In other news, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at approximately $2,126,280. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. analysts expect that Starbucks Co. will post 2.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s payout ratio is presently 39.60%.
Several equities analysts have recently commented on SBUX shares. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer reiterated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research report on Friday, January 19th. Wedbush reiterated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective (up from $66.00) on shares of Starbucks in a research report on Friday, January 19th. Finally, William Blair reiterated an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.57.
Starbucks Company Profile
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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