Amundi Pioneer Asset Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,664,048 shares of the coffee company’s stock after selling 312,521 shares during the period. Starbucks makes up approximately 1.1% of Amundi Pioneer Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Amundi Pioneer Asset Management Inc. owned 0.47% of Starbucks worth $357,927,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares in the last quarter. Valley National Advisers Inc. increased its holdings 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 buying an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Starbucks in the second quarter valued at $128,000. Horan Capital Advisors LLC. purchased a new position in Starbucks in the third quarter valued at $131,000. Finally, Aviance Capital Management LLC purchased a new position in Starbucks in the second quarter valued at $146,000. Institutional investors and hedge funds own 71.92% of the company’s stock.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Howard D. Schultz sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now directly owns 29,798,282 shares in the company, valued at $1,706,845,592.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 329,492 shares of company stock worth $18,859,801. 3.48% of the stock is owned by insiders.
Shares of Starbucks Co. (SBUX) traded up $0.32 during mid-day trading on Wednesday, hitting $55.99. 14,190,323 shares of the stock traded hands, compared to its average volume of 12,620,000. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87. The firm has a market cap of $78,700.00, a price-to-earnings ratio of 18.79, 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 quick ratio of 0.81 and a current ratio of 1.01.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the prior year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. analysts forecast that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s payout ratio is currently 40.27%.
SBUX has been the subject of a number of research reports. OTR Global raised shares of Starbucks to a “positive” rating in a research note on Thursday, October 26th. Morgan Stanley boosted their target price on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Vetr cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price for the company. in a research note on Monday, January 8th. Tigress Financial started coverage on shares of Starbucks in a research note on Wednesday, December 27th. They set a “buy” rating for the company. Finally, Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Starbucks currently has an average rating of “Buy” and an average price target of $64.63.
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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.
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