B & T Capital Management DBA Alpha Capital Management cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.1% during the fourth quarter, Holdings Channel reports. The fund owned 71,165 shares of the coffee company’s stock after selling 86 shares during the period. Starbucks accounts for 2.7% of B & T Capital Management DBA Alpha Capital Management’s investment portfolio, making the stock its 6th largest position. B & T Capital Management DBA Alpha Capital Management’s holdings in Starbucks were worth $3,951,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. Fort Point Capital Partners LLC boosted its position in Starbucks by 33.1% in the third quarter. Fort Point Capital Partners LLC now owns 13,825 shares of the coffee company’s stock valued at $748,000 after buying an additional 3,441 shares during the period. Empirical Financial Services LLC boosted its position in Starbucks by 5.7% in the third quarter. Empirical Financial Services LLC now owns 22,688 shares of the coffee company’s stock valued at $1,228,000 after buying an additional 1,216 shares during the period. Intrust Bank NA boosted its position in Starbucks by 3.3% in the third quarter. Intrust Bank NA now owns 25,837 shares of the coffee company’s stock valued at $1,398,000 after buying an additional 816 shares during the period. Russell Investments Group Ltd. bought a new position in Starbucks during the fourth quarter valued at about $172,717,000. Finally, California State Teachers Retirement System boosted its position in Starbucks by 0.8% in the third quarter. California State Teachers Retirement System now owns 3,052,444 shares of the coffee company’s stock valued at $165,259,000 after buying an additional 25,600 shares during the period. Institutional investors own 68.49% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at 55.81 on Tuesday. The stock has a market cap of $81.34 billion, a P/E ratio of 28.62 and a beta of 0.79. Starbucks Co. has a 52-week low of $50.84 and a 52-week high of $61.64. The firm has a 50-day moving average of $55.99 and a 200-day moving average of $55.70.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 26th. The coffee company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Starbucks had a net margin of 13.30% and a return on equity of 51.45%. The company earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the company earned $0.46 EPS. Starbucks’s revenue was up 6.7% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post $2.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, February 7th. Starbucks’s dividend payout ratio is 51.28%.
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SBUX has been the subject of several recent analyst reports. Edward Jones upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Tuesday, December 6th. Nomura reiterated a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a report on Thursday, December 1st. Piper Jaffray Companies set a $64.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Tuesday, November 29th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.81 price objective for the company. in a report on Tuesday, November 22nd. Finally, BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks in a report on Sunday, December 4th. Eight research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $63.87.
In other news, Director Joshua Cooper Ramo sold 5,868 shares of Starbucks stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $55.23, for a total transaction of $324,089.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is owned by insiders.
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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