Starbucks (SBUX) Position Cut by Montag A & Associates Inc.

Montag A & Associates Inc. trimmed its stake in Starbucks (NASDAQ:SBUX) by 12.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,838 shares of the coffee company’s stock after selling 3,125 shares during the quarter. Montag A & Associates Inc.’s holdings in Starbucks were worth $1,264,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Ledyard National Bank grew its stake in Starbucks by 2.3% during the fourth quarter. Ledyard National Bank now owns 135,394 shares of the coffee company’s stock worth $7,775,000 after buying an additional 3,025 shares during the period. MAI Capital Management grew its stake in Starbucks by 4.5% during the fourth quarter. MAI Capital Management now owns 21,389 shares of the coffee company’s stock worth $1,228,000 after buying an additional 912 shares during the period. Trust Co. of Vermont grew its stake in Starbucks by 11.1% during the fourth quarter. Trust Co. of Vermont now owns 135,585 shares of the coffee company’s stock worth $7,787,000 after buying an additional 13,566 shares during the period. Monetta Financial Services Inc. purchased a new stake in Starbucks during the fourth quarter worth approximately $1,317,000. Finally, United Bank grew its stake in Starbucks by 5.0% during the fourth quarter. United Bank now owns 23,149 shares of the coffee company’s stock worth $1,329,000 after buying an additional 1,112 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Saturday, May 5th. ValuEngine downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Thursday, May 3rd. Oppenheimer reiterated an “outperform” rating on shares of Starbucks in a research note on Friday, April 27th. Wedbush reiterated a “hold” rating and set a $58.00 price objective on shares of Starbucks in a research note on Friday, April 27th. Finally, Piper Jaffray reiterated an “overweight” rating on shares of Starbucks in a research note on Friday, April 27th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $64.25.

In related news, Director Craig Weatherup sold 59,838 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the sale, the director now directly owns 26,500 shares of the company’s stock, valued at $1,592,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.40% of the company’s stock.

SBUX opened at $57.20 on Friday. The firm has a market capitalization of $78.87 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.83 and a current ratio of 1.09. Starbucks has a 12-month low of $56.77 and a 12-month high of $57.32.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $6.03 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. equities research analysts anticipate that Starbucks will post 2.49 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Thursday, May 10th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 9th. This represents a $1.20 annualized dividend and a yield of 2.10%. Starbucks’s dividend payout ratio is presently 58.25%.

Starbucks announced that its Board of Directors has authorized a share buyback program on Thursday, April 26th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the coffee company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Starbucks Company 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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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