American Money Management LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,618 shares of the coffee company’s stock after selling 627 shares during the quarter. Starbucks accounts for approximately 1.4% of American Money Management LLC’s portfolio, making the stock its 29th biggest position. American Money Management LLC’s holdings in Starbucks were worth $5,219,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Banque Pictet & Cie SA grew its position in Starbucks by 5.7% in the 3rd quarter. Banque Pictet & Cie SA now owns 522,265 shares of the coffee company’s stock valued at $57,611,000 after acquiring an additional 28,114 shares in the last quarter. Bouvel Investment Partners LLC grew its position in Starbucks by 0.8% in the 4th quarter. Bouvel Investment Partners LLC now owns 22,633 shares of the coffee company’s stock valued at $2,647,000 after acquiring an additional 179 shares in the last quarter. United Asset Strategies Inc. purchased a new position in shares of Starbucks in the 4th quarter valued at about $515,000. Whittier Trust Co. boosted its stake in shares of Starbucks by 5.0% in the 4th quarter. Whittier Trust Co. now owns 285,124 shares of the coffee company’s stock valued at $33,350,000 after buying an additional 13,493 shares during the period. Finally, Greystone Financial Group LLC boosted its stake in shares of Starbucks by 30.5% in the 4th quarter. Greystone Financial Group LLC now owns 78,548 shares of the coffee company’s stock valued at $9,188,000 after buying an additional 18,364 shares during the period. 69.21% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Howard D. Schultz bought 72,500 shares of the stock in a transaction dated Thursday, May 12th. The stock was acquired at an average price of $68.85 per share, for a total transaction of $4,991,625.00. Following the completion of the purchase, the chief executive officer now owns 19,606,960 shares in the company, valued at $1,349,939,196. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Howard D. Schultz bought 137,500 shares of the stock in a transaction dated Tuesday, May 10th. The stock was bought at an average price of $72.67 per share, with a total value of $9,992,125.00. Following the purchase, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at approximately $1,419,569,208.20. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.
Starbucks (NASDAQ:SBUX – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.60 billion. Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, equities analysts forecast that Starbucks Co. will post 2.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a dividend of $0.49 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.96 annualized dividend and a yield of 2.73%. Starbucks’s dividend payout ratio (DPR) is presently 52.55%.
Several equities analysts have recently issued reports on SBUX shares. BTIG Research decreased their price objective on Starbucks from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Barclays decreased their price objective on Starbucks from $108.00 to $94.00 in a research note on Wednesday, May 4th. Stephens decreased their target price on Starbucks from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, February 2nd. Guggenheim reduced their price objective on shares of Starbucks from $95.00 to $87.00 in a research report on Wednesday, April 13th. Finally, Royal Bank of Canada dropped their target price on shares of Starbucks from $122.00 to $108.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.96.
About Starbucks (Get Rating)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
- Get a free copy of the StockNews.com research report on Starbucks (SBUX)
- The Institutional Tide Has Turned For Cisco Systems
- Don’t Bet On Cheaper Oil, Not Yet Anway
- Can Nvidia Bounce Back
- A Reversal In The S&P 500 Is Confirmed
- MarketBeat Podcast: Options Trading As Easy As Trading Stocks
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.