Marcus Capital LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,500 shares of the coffee company’s stock after selling 250 shares during the period. Starbucks Corporation accounts for 2.7% of Marcus Capital LLC’s portfolio, making the stock its 15th largest position. Marcus Capital LLC’s holdings in Starbucks Corporation were worth $2,788,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Vontobel Asset Management Inc. increased its position in Starbucks Corporation by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the period. Neuberger Berman Group LLC increased its position in Starbucks Corporation by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock worth $179,561,000 after buying an additional 2,694,557 shares during the period. Capital World Investors increased its position in Starbucks Corporation by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock worth $1,520,879,000 after buying an additional 2,000,107 shares during the period. Janus Capital Management LLC increased its position in Starbucks Corporation by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock worth $1,206,513,000 after buying an additional 1,691,400 shares during the period. Finally, Hitchwood Capital Management LP increased its position in Starbucks Corporation by 146.4% in the second quarter. Hitchwood Capital Management LP now owns 1,725,000 shares of the coffee company’s stock worth $98,532,000 after buying an additional 1,025,000 shares during the period. 68.73% of the stock is owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ:SBUX) opened at 55.06 on Friday. The company’s 50 day moving average is $56.97 and its 200-day moving average is $55.78. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $61.64. The firm has a market cap of $80.24 billion, a P/E ratio of 28.24 and a beta of 0.79.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.85 billion. Starbucks Corporation had a net margin of 13.30% and a return on equity of 51.45%. Starbucks Corporation’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts predict that Starbucks Corporation will post $2.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, February 9th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, February 7th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 51.28%.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, January 16th. Instinet reissued a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corporation in a research report on Tuesday, January 3rd. Deutsche Bank AG decreased their price objective on shares of Starbucks Corporation from $67.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday, November 1st. Barclays PLC reissued an “equal weight” rating and issued a $57.00 price objective (down previously from $60.00) on shares of Starbucks Corporation in a research report on Sunday, November 6th. Finally, RBC Capital Markets decreased their price objective on shares of Starbucks Corporation from $68.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.28.
In other Starbucks Corporation news, insider Clifford Burrows sold 80,000 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $58.88, for a total transaction of $4,710,400.00. Following the transaction, the insider now directly owns 248,517 shares of the company’s stock, valued at $14,632,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua Cooper Ramo sold 5,868 shares of Starbucks Corporation stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The disclosure for this sale can be found here. Insiders have sold 254,682 shares of company stock worth $14,935,431 over the last three months. Insiders own 3.38% of the company’s stock.
Starbucks Corporation 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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