Ipswich Investment Management Co. Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,431 shares of the coffee company’s stock after selling 5,390 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Starbucks were worth $656,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Capital World Investors increased its stake in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares during the last quarter. Northern Trust Corp grew its stake in Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after buying an additional 1,060,298 shares during the last quarter. Capital International Investors grew its stake in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after buying an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after buying an additional 1,809,166 shares during the last quarter. 71.87% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 25,000 shares of the company’s 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 in the company, valued at approximately $2,126,280. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,826 shares of company stock worth $14,213,139. Insiders own 3.40% of the company’s stock.
A number of research analysts recently commented on the stock. Credit Suisse Group decreased their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Deutsche Bank reissued a “buy” rating and issued a $63.00 price objective on shares of Starbucks in a report on Friday, January 26th. BMO Capital Markets upped their price target on shares of Starbucks to $58.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target for the company in a report on Tuesday, November 14th. Finally, Nomura lowered their price objective on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. Starbucks currently has an average rating of “Buy” and an average target price of $64.63.
Shares of Starbucks Co. (SBUX) traded up $0.74 during trading on Friday, reaching $56.14. 11,323,658 shares of the company’s stock traded hands, compared to its average volume of 13,420,000. The company has a market capitalization of $79,960.00, a price-to-earnings ratio of 17.94, a PEG ratio of 1.53 and a beta of 0.70. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. analysts anticipate that Starbucks Co. will post 2.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Wednesday, February 7th. Starbucks’s payout ratio is currently 38.34%.
Starbucks Company 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.
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