Essex Investment Management Co. LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,013 shares of the coffee company’s stock after selling 5,012 shares during the period. Essex Investment Management Co. LLC’s holdings in Starbucks were worth $2,700,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SBUX. Private Wealth Advisors Inc. raised its position in shares of Starbucks by 3.4% in the 2nd quarter. Private Wealth Advisors Inc. now owns 26,316 shares of the coffee company’s stock worth $1,534,000 after acquiring an additional 862 shares in the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of Starbucks by 0.7% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 304,085 shares of the coffee company’s stock worth $17,732,000 after acquiring an additional 2,098 shares in the last quarter. Polen Capital Management LLC raised its position in shares of Starbucks by 8.3% in the 2nd quarter. Polen Capital Management LLC now owns 11,335,091 shares of the coffee company’s stock worth $660,949,000 after acquiring an additional 870,373 shares in the last quarter. Jacobi Capital Management LLC raised its position in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares in the last quarter. Finally, Vantage Investment Advisors LLC raised its position in shares of Starbucks by 27.8% in the 2nd quarter. Vantage Investment Advisors LLC now owns 93,738 shares of the coffee company’s stock worth $5,466,000 after acquiring an additional 20,391 shares in the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the company. UBS Group set a $64.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Vetr lowered Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price objective for the company. in a research report on Monday. BidaskClub raised Starbucks from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, BMO Capital Markets lifted their price objective on Starbucks to $58.00 and gave the stock a “market perform” rating 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’s stock. The company presently has an average rating of “Buy” and an average price target of $64.57.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. equities research analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. Starbucks’s dividend payout ratio (DPR) is currently 38.34%.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the transaction, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction dated 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 transaction, 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. 3.48% of the stock is currently owned by 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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