Starbucks Co. (SBUX) Position Decreased by Private Advisor Group LLC

Private Advisor Group LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 17.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 56,614 shares of the coffee company’s stock after selling 11,618 shares during the period. Private Advisor Group LLC’s holdings in Starbucks were worth $3,645,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SBUX. Oregon Public Employees Retirement Fund increased its holdings in Starbucks by 5,590.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock worth $368,000 after purchasing an additional 23,263,399 shares in the last quarter. Polen Capital Management LLC increased its holdings in Starbucks by 46.8% in the 3rd quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock worth $1,025,128,000 after purchasing an additional 5,748,941 shares in the last quarter. BlackRock Inc. increased its holdings in Starbucks by 6.8% in the 3rd quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock worth $5,136,569,000 after purchasing an additional 5,714,419 shares in the last quarter. Magellan Asset Management Ltd increased its holdings in Starbucks by 17.5% in the 3rd quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock worth $2,163,748,000 after purchasing an additional 5,675,224 shares in the last quarter. Finally, Capital World Investors increased its holdings in Starbucks by 33.3% in the 3rd quarter. Capital World Investors now owns 11,222,132 shares of the coffee company’s stock worth $637,866,000 after purchasing an additional 2,805,225 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

In related news, EVP Vivek C. Varma sold 70,364 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $70.05, for a total transaction of $4,928,998.20. Following the completion of the sale, the executive vice president now owns 138,004 shares of the company’s stock, valued at $9,667,180.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 152,634 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the sale, the insider now directly owns 311,083 shares of the company’s stock, valued at approximately $20,910,999.26. The disclosure for this sale can be found here. Insiders have sold 565,806 shares of company stock valued at $38,789,988 in the last ninety days. 3.98% of the stock is currently owned by insiders.

A number of brokerages have issued reports on SBUX. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Monday, January 28th. Bank of America set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a report on Friday, January 25th. CIBC upped their target price on Starbucks from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, January 25th. Finally, Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up previously from $70.00) on shares of Starbucks in a research note on Friday, January 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $67.01.

Shares of SBUX stock opened at $70.74 on Friday. The stock has a market capitalization of $87.11 billion, a PE ratio of 29.23, a P/E/G ratio of 2.01 and a beta of 0.50. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $72.18.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 24th. The coffee company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.65 by $0.10. Starbucks had a return on equity of 193.00% and a net margin of 11.98%. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter last year, the firm posted $0.65 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 2.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Thursday, February 7th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, February 6th. This represents a $1.44 annualized dividend and a yield of 2.04%. Starbucks’s dividend payout ratio is currently 59.50%.

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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 beverages, iced tea, 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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