Neuberger Berman Group LLC Raises Position in Starbucks Co. (SBUX)

Neuberger Berman Group LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,656,597 shares of the coffee company’s stock after acquiring an additional 423,814 shares during the period. Neuberger Berman Group LLC owned about 0.26% of Starbucks worth $196,396,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SBUX. Ken Stern & Associates Inc. boosted its holdings in shares of Starbucks by 0.4% during the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after purchasing an additional 23 shares during the period. Spectrum Management Group Inc. boosted its holdings in shares of Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after purchasing an additional 30 shares during the period. Risk Paradigm Group LLC boosted its holdings in shares of Starbucks by 0.7% during the second quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock worth $436,000 after purchasing an additional 50 shares during the period. Valley National Advisers Inc. lifted its stake in Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in Starbucks by 0.8% in the second quarter. GHP Investment Advisors Inc. now owns 7,657 shares of the coffee company’s stock valued at $446,000 after acquiring an additional 64 shares during the last quarter. 71.92% of the stock is currently owned by institutional investors and hedge funds.

In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the sale, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Insiders sold a total of 329,492 shares of company stock worth $18,859,801 in the last three months. Insiders own 3.48% of the company’s stock.

Shares of Starbucks Co. (NASDAQ:SBUX) traded up $0.84 during mid-day trading on Wednesday, reaching $56.52. 5,819,951 shares of the company were exchanged, compared to its average volume of 12,383,352. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market capitalization of $78,860.00, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.53 and a beta of 0.70. 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 announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. Starbucks’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. equities analysts anticipate that Starbucks Co. will post 2.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is presently 40.27%.

A number of analysts have issued reports on the stock. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 target price for the company. in a research note on Wednesday. Mizuho cut shares of Starbucks from a “buy” rating to a “neutral” rating and lifted their target price for the company from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, January 30th. BidaskClub cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Finally, Sanford C. Bernstein cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.63.

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Starbucks 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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