Traynor Capital Management Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 22.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,393 shares of the coffee company’s stock after selling 2,085 shares during the quarter. Traynor Capital Management Inc.’s holdings in Starbucks were worth $424,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Starbucks by 2.1% in the second 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 in the last quarter. Capital World Investors raised its holdings in Starbucks by 2.0% in the second 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 in the last quarter. Northern Trust Corp grew its stake in shares of Starbucks by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Capital International Investors grew its stake in shares of Starbucks by 28.3% during the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Starbucks by 12.8% during the second quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after acquiring an additional 1,809,166 shares during the last quarter. 73.63% 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 stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the sale, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by corporate insiders.
Shares of Starbucks Co. (NASDAQ SBUX) traded down $0.22 during midday trading on Wednesday, hitting $58.83. The stock had a trading volume of 6,483,615 shares, compared to its average volume of 11,420,988. The stock has a market capitalization of $83,620.00, a P/E ratio of 18.79, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. Starbucks’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders 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 dividend yield of 2.04%. The ex-dividend date was Wednesday, February 7th. Starbucks’s payout ratio is 38.34%.
SBUX has been the topic of a number of recent research reports. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 target price on the stock in a research report on Tuesday, November 14th. UBS Group set a $64.00 price target on Starbucks and gave the company a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Tigress Financial initiated coverage on Starbucks in a research note on Wednesday, December 27th. They set a “buy” rating for the company. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a research note on Friday, January 5th. Thirteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Starbucks presently has a consensus rating of “Buy” and a consensus price target of $64.57.
COPYRIGHT VIOLATION NOTICE: This report was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://ledgergazette.com/2018/03/14/traynor-capital-management-inc-has-424000-holdings-in-starbucks-co-sbux.html.
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.
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.