Riverbridge Partners LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 834,337 shares of the coffee company’s stock after selling 58,477 shares during the quarter. Riverbridge Partners LLC’s holdings in Starbucks were worth $47,916,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SBUX. Vanguard Group Inc. grew its holdings in Starbucks by 2.1% during the second 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 grew its holdings in Starbucks by 2.0% during the second 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 grew its holdings in Starbucks by 5.2% during the second 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 grew its holdings in Starbucks by 28.3% during 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 in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Starbucks by 12.8% during the second 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. 71.87% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on the company. Credit Suisse Group decreased their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Goldman Sachs Group downgraded Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price target for the stock from $73.00 to $68.00 in a report on Friday, January 26th. BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Starbucks in a report on Friday, January 26th. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a report on Monday, November 13th. Finally, BMO Capital Markets decreased their price target on Starbucks from $56.00 to $52.00 and set a “market perform” rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Starbucks presently has an average rating of “Buy” and a consensus target price of $64.63.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. sell-side analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. Starbucks’s dividend payout ratio is presently 38.34%.
In related news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction dated 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 sale, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 247,826 shares of company stock worth $14,213,139 in the last ninety days. Insiders own 3.40% of the company’s stock.
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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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