Dearborn Partners LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 308,389 shares of the coffee company’s stock after selling 8,993 shares during the quarter. Dearborn Partners LLC’s holdings in Starbucks were worth $17,711,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of SBUX. D L Carlson Investment Group Inc. increased its stake in Starbucks by 9.8% in the second quarter. D L Carlson Investment Group Inc. now owns 77,147 shares of the coffee company’s stock valued at $4,498,000 after purchasing an additional 6,877 shares in the last quarter. Farr Miller & Washington LLC DC increased its stake in Starbucks by 6,545.2% in the second quarter. Farr Miller & Washington LLC DC now owns 313,056 shares of the coffee company’s stock valued at $18,254,000 after purchasing an additional 308,345 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Starbucks by 7.9% in the second quarter. Atlantic Trust Group LLC now owns 181,465 shares of the coffee company’s stock valued at $10,582,000 after purchasing an additional 13,291 shares in the last quarter. Sterling Investment Advisors Ltd. increased its stake in Starbucks by 9.3% in the second quarter. Sterling Investment Advisors Ltd. now owns 15,680 shares of the coffee company’s stock valued at $914,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in Starbucks by 0.3% in the second quarter. Calamos Wealth Management LLC now owns 81,666 shares of the coffee company’s stock valued at $4,762,000 after purchasing an additional 273 shares in the last quarter. 72.74% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Wedbush reaffirmed a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reaffirmed a “buy” rating and issued a $66.00 target price on shares of Starbucks in a research note on Friday, January 19th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a report on Friday, January 19th. Barclays reiterated an “equal weight” rating and issued a $65.00 price target (up previously from $58.00) on shares of Starbucks in a report on Tuesday, January 16th. Finally, Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and reduced their price target for the company from $73.00 to $68.00 in a report on Friday, January 26th. Twelve equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $64.63.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 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 business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. analysts forecast that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio is currently 38.34%.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares in the company, valued at $2,126,280. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the 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 completion of the sale, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Company 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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