Starbucks Corporation (SBUX) Shares Sold by Eaton Vance Management

Eaton Vance Management lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,093,103 shares of the coffee company’s stock after selling 93,954 shares during the period. Eaton Vance Management owned about 0.28% of Starbucks Corporation worth $238,669,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SBUX. Magellan Asset Management Ltd increased its stake in shares of Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Starbucks Corporation by 60.0% in the second quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock worth $261,014,000 after buying an additional 1,678,506 shares during the last quarter. State Street Corp increased its stake in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Finally, Haverford Trust Co. bought a new stake in shares of Starbucks Corporation in the first quarter worth $49,787,000. Institutional investors and hedge funds own 72.01% of the company’s stock.

In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 150,708 shares of company stock valued at $8,322,192 over the last ninety days. Insiders own 3.40% of the company’s stock.

A number of analysts recently issued reports on the stock. Vetr lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a research note on Monday. Robert W. Baird dropped their price target on shares of Starbucks Corporation from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Credit Suisse Group dropped their price target on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Nomura dropped their price target on shares of Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, BMO Capital Markets lowered shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $54.52 to $64.00 in a research note on Wednesday, August 9th. Twelve analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Starbucks Corporation currently has a consensus rating of “Buy” and an average target price of $63.31.

TRADEMARK VIOLATION WARNING: This news story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2017/11/13/starbucks-corporation-sbux-shares-sold-by-eaton-vance-management.html.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at $57.04 on Monday. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The firm has a market cap of $81,658.46, a PE ratio of 27.56, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the company earned $0.56 EPS. Starbucks Corporation’s revenue was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

Starbucks Corporation 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply