Starbucks Corporation (SBUX) Stake Lessened by Nationwide Fund Advisors

Nationwide Fund Advisors lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 25.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,218 shares of the coffee company’s stock after selling 188,936 shares during the quarter. Nationwide Fund Advisors’ holdings in Starbucks were worth $31,967,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its holdings in Starbucks by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC boosted its holdings in Starbucks by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer boosted its holdings in Starbucks by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after acquiring an additional 150 shares during the period. IHT Wealth Management LLC raised its position in shares of Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks in the 1st quarter valued at approximately $122,000. Hedge funds and other institutional investors own 71.07% of the company’s stock.

In other news, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders sold 525,550 shares of company stock worth $29,688,442 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on SBUX shares. UBS cut their target price on Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Cowen reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a research report on Friday, September 1st. Mizuho set a $75.00 target price on Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley upped their target price on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Finally, Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price on the stock. in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $63.26.

Shares of Starbucks Corporation (NASDAQ SBUX) traded up $0.58 during midday trading on Tuesday, reaching $59.34. The company’s stock had a trading volume of 11,295,525 shares, compared to its average volume of 9,382,500. 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 capitalization of $81,554.90, a price-to-earnings ratio of 27.69, a PEG ratio of 1.57 and a beta of 0.75.

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

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.02%. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.

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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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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