Starbucks Co. (SBUX) Position Reduced by Wayne Hummer Investments L.L.C.

Wayne Hummer Investments L.L.C. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 26.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,298 shares of the coffee company’s stock after selling 2,984 shares during the quarter. Wayne Hummer Investments L.L.C.’s holdings in Starbucks were worth $477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Starbucks by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock valued at $1,764,739,000 after acquiring an additional 1,210,393 shares during the last quarter. Capital International Investors boosted its holdings in shares of Starbucks by 28.3% in the third 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 during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Starbucks by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 17,008,111 shares of the coffee company’s stock worth $974,952,000 after buying an additional 319,533 shares during the last quarter. Polen Capital Management LLC boosted its holdings in shares of Starbucks by 1.1% in the fourth quarter. Polen Capital Management LLC now owns 11,873,272 shares of the coffee company’s stock worth $681,882,000 after buying an additional 124,676 shares during the last quarter. Finally, Parnassus Investments CA purchased a new position in shares of Starbucks in the third quarter worth approximately $498,863,000. 73.52% of the stock is currently owned by hedge funds and other institutional investors.

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SBUX has been the topic of a number of research reports. Oppenheimer reissued a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a report on Friday, January 26th. Piper Jaffray reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a report on Friday, January 26th. Deutsche Bank reissued a “buy” rating and issued a $63.00 price objective on shares of Starbucks in a report on Friday, January 26th. BTIG Research reissued a “buy” rating and issued a $64.00 price objective on shares of Starbucks in a report on Friday, January 26th. Finally, Goldman Sachs downgraded shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the stock from $73.00 to $68.00 in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have assigned a buy rating to the company. Starbucks has an average rating of “Buy” and an average price target of $64.05.

Starbucks stock opened at $58.34 on Friday. The company has a market cap of $83,127.18, a PE ratio of 28.32, a P/E/G ratio of 1.64 and a beta of 0.64. 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 Co. has a 1 year low of $52.58 and a 1 year high of $64.87.

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

In other news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction that occurred 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 sale, the insider now owns 331,829 shares in the company, valued at $18,920,889.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Craig Weatherup sold 59,838 shares of Starbucks stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now owns 26,500 shares in the company, valued at approximately $1,592,650. The disclosure for this sale can be found here. In the last quarter, insiders have sold 247,664 shares of company stock worth $14,243,602. Company insiders own 3.40% of the company’s stock.

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About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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