TNB Financial trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 32.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,066 shares of the coffee company’s stock after selling 1,942 shares during the period. TNB Financial’s holdings in Starbucks were worth $233,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Capital World Investors lifted its position in shares of Starbucks by 2.0% in 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 lifted its position in shares of Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares during the period. Capital International Investors lifted its position in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after purchasing an additional 1,809,166 shares during the period. 73.63% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on SBUX shares. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $63.14 price target for the company. in a research report on Monday, November 20th. UBS Group set a $64.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Piper Jaffray Companies reiterated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research note on Friday, January 5th. Tigress Financial reiterated a “buy” rating on shares of Starbucks in a research note on Tuesday, January 2nd. Finally, Oppenheimer reiterated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research note on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.57.
In other news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the sale, the director now owns 39,000 shares in the company, valued at $2,126,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the 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 completion of the sale, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. 3.48% of the stock is owned by corporate insiders.
Starbucks Co. (SBUX) opened at $59.05 on Wednesday. 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 Co. has a 52 week low of $52.58 and a 52 week high of $64.87. The stock has a market cap of $83,000.00, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Starbucks’s revenue for the quarter was up 5.9% compared to the same quarter last year. equities research analysts expect that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. Starbucks’s payout ratio is currently 38.34%.
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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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