Personal Capital Advisors Corp reduced its position in Starbucks Co. (NASDAQ:SBUX) by 17.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 342,098 shares of the coffee company’s stock after selling 70,921 shares during the period. Personal Capital Advisors Corp’s holdings in Starbucks were worth $19,684,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Waldron LP increased its stake in shares of Starbucks by 44.8% in the first quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock worth $1,057,000 after buying an additional 5,604 shares in the last quarter. Baxter Bros Inc. increased its stake in shares of Starbucks by 6.5% in the first quarter. Baxter Bros Inc. now owns 7,018 shares of the coffee company’s stock worth $410,000 after buying an additional 427 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Starbucks by 2.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 38,814 shares of the coffee company’s stock worth $2,119,000 after buying an additional 917 shares in the last quarter. Nicolet Bankshares Inc. increased its stake in shares of Starbucks by 84.1% in the first quarter. Nicolet Bankshares Inc. now owns 15,674 shares of the coffee company’s stock worth $915,000 after buying an additional 7,162 shares in the last quarter. Finally, Northwest Investment Counselors LLC increased its stake in shares of Starbucks by 2.4% in the first quarter. Northwest Investment Counselors LLC now owns 15,372 shares of the coffee company’s stock worth $898,000 after buying an additional 357 shares in the last quarter. 68.49% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Co. (NASDAQ:SBUX) opened at 61.15 on Wednesday. Starbucks Co. has a 12 month low of $50.84 and a 12 month high of $61.94. The firm’s 50-day moving average price is $59.83 and its 200 day moving average price is $57.51. The stock has a market cap of $88.55 billion, a price-to-earnings ratio of 30.24 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter in the prior year, the company posted $0.39 EPS. Starbucks’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post $2.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Thursday, May 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, May 9th. Starbucks’s payout ratio is 51.28%.
A number of equities research analysts recently weighed in on the stock. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $63.91 target price on the stock. in a research note on Wednesday, April 26th. OTR Global downgraded shares of Starbucks to a “positive” rating in a research note on Tuesday, April 25th. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Credit Suisse Group AG raised their target price on shares of Starbucks from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus set a $66.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $64.67.
In other news, insider Clifford Burrows sold 114,826 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the transaction, the insider now owns 363,343 shares of the company’s stock, valued at approximately $21,604,374.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Myron E. Ullman III sold 20,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the transaction, the director now directly owns 34,000 shares in the company, valued at approximately $2,054,620. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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