Blueport Capital L.P. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 24.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,534 shares of the coffee company’s stock after selling 1,143 shares during the quarter. Starbucks accounts for 3.4% of Blueport Capital L.P.’s investment portfolio, making the stock its 10th largest position. Blueport Capital L.P.’s holdings in Starbucks were worth $203,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings 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 in the last quarter. Capital World Investors lifted its holdings in 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 buying an additional 895,432 shares in the last quarter. Northern Trust Corp lifted its holdings in Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Capital International Investors lifted its holdings in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after buying an additional 1,809,166 shares in the last quarter. Institutional investors own 73.63% of the company’s stock.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the firm’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 transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Insiders have sold a total of 247,664 shares of company stock worth $14,243,602 over the last three months. 3.40% of the stock is currently owned by insiders.
Starbucks Co. (SBUX) opened at $59.00 on Friday. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. The stock has a market cap of $82,410.00, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the firm posted $0.52 EPS. Starbucks’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts anticipate 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. Shareholders of record on Thursday, February 8th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s payout ratio is currently 38.34%.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Vetr lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price objective on the stock. in a report on Monday, March 12th. UBS set a $66.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Thursday. BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, BMO Capital Markets raised their price objective on shares of Starbucks to $58.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $64.64.
TRADEMARK VIOLATION NOTICE: This story was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/18/blueport-capital-l-p-trims-holdings-in-starbucks-co-sbux.html.
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.