Family Legacy Inc. Cuts Stake in Starbucks Co. (SBUX)

Family Legacy Inc. lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 75.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the coffee company’s stock after selling 15,466 shares during the period. Family Legacy Inc.’s holdings in Starbucks were worth $269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares during the last quarter. Capital World Investors grew its stake in shares of Starbucks by 2.0% during the 2nd 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 during the period. Northern Trust Corp grew its stake in Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Capital International Investors grew its stake in Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after acquiring an additional 1,809,166 shares during the last quarter. Institutional investors own 71.92% of the company’s stock.

In other news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the transaction, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Over the last quarter, insiders have sold 329,492 shares of company stock valued at $18,859,801. 3.40% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on SBUX shares. OTR Global raised shares of Starbucks to a “positive” rating in a research note on Thursday, October 26th. 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 lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price on the stock. in a report on Monday, January 8th. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, December 27th. They set a “buy” rating on the stock. Finally, Goldman Sachs Group lowered shares of Starbucks from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $73.00 to $68.00 in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $64.63.

Starbucks Co. (NASDAQ:SBUX) traded up $0.59 during trading hours on Friday, reaching $56.58. The company had a trading volume of 10,294,400 shares, compared to its average volume of 12,487,809. The firm has a market capitalization of $79,390.00, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.55 and a beta of 0.70. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. equities analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.

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

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About Starbucks

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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