Berkeley Capital Partners LLC Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Berkeley Capital Partners LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,209 shares of the coffee company’s stock after selling 3,301 shares during the period. Berkeley Capital Partners LLC’s holdings in Starbucks were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Guggenheim Capital LLC raised its holdings in shares of Starbucks by 13.7% in the fourth quarter. Guggenheim Capital LLC now owns 658,726 shares of the coffee company’s stock worth $57,914,000 after buying an additional 79,557 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Starbucks by 2.0% in the fourth quarter. Sunbelt Securities Inc. now owns 19,699 shares of the coffee company’s stock worth $1,704,000 after buying an additional 395 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Starbucks by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 150,542 shares of the coffee company’s stock worth $13,236,000 after buying an additional 6,390 shares during the period. Franklin Resources Inc. raised its holdings in shares of Starbucks by 9.5% in the fourth quarter. Franklin Resources Inc. now owns 1,361,298 shares of the coffee company’s stock worth $119,685,000 after buying an additional 117,735 shares during the period. Finally, Stillwater Investment Management LLC raised its holdings in shares of Starbucks by 0.5% in the first quarter. Stillwater Investment Management LLC now owns 38,289 shares of the coffee company’s stock worth $2,517,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 68.51% of the company’s stock.

Several brokerages have recently weighed in on SBUX. KeyCorp increased their price target on Starbucks from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. TheStreet cut Starbucks from a “b-” rating to a “c” rating in a research note on Tuesday, April 28th. Argus dropped their price objective on Starbucks from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Credit Suisse Group reissued a “buy” rating and issued a $82.00 price objective on shares of Starbucks in a research note on Wednesday, April 29th. Finally, Wedbush increased their price objective on Starbucks from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $84.04.

In other news, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total transaction of $165,280.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.66, for a total value of $330,210.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,504 shares of company stock worth $810,521. 0.41% of the stock is currently owned by insiders.

Shares of NASDAQ:SBUX traded down $0.11 during trading on Friday, reaching $76.53. 7,424,977 shares of the company’s stock traded hands, compared to its average volume of 8,243,539. Starbucks Co. has a fifty-two week low of $50.02 and a fifty-two week high of $98.14. The firm has a market cap of $89.59 billion, a PE ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79. The company has a 50-day simple moving average of $74.75 and a 200-day simple moving average of $77.29.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The company had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm posted $0.78 EPS. Starbucks’s revenue was down 38.1% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 0.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 6th. Starbucks’s payout ratio is 57.95%.

Starbucks Profile

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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