Carderock Capital Management Inc. Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

Carderock Capital Management Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,591 shares of the coffee company’s stock after selling 1,277 shares during the period. Carderock Capital Management Inc.’s holdings in Starbucks were worth $3,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Capital World Investors increased its holdings in Starbucks by 2.0% during the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after buying an additional 895,432 shares during the last quarter. Northern Trust Corp increased its holdings in Starbucks by 5.2% during the second 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 increased its holdings in Starbucks by 28.3% during the third 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. increased its holdings in Starbucks by 12.8% during the second 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. 71.92% of the stock is owned by hedge funds and other institutional investors.

Shares of Starbucks Co. (NASDAQ:SBUX) traded up $0.29 during midday trading on Wednesday, hitting $55.67. 10,416,300 shares of the stock were exchanged, compared to its average volume of 12,240,316. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $78,470.00, a PE ratio of 18.77, a PEG ratio of 1.53 and a beta of 0.70. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 quarter in the prior year, the business earned $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 announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is 40.27%.

In related news, Director Myron E. Ullman III sold 25,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at $2,126,280. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 329,492 shares of company stock valued at $18,859,801. 3.48% of the stock is owned by company insiders.

SBUX has been the subject of a number of research reports. UBS Group reduced their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley upped their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a report on Thursday, November 2nd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. 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. The company has a consensus rating of “Buy” and a consensus target price 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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