Vaughan David Investments LLC IL reduced its position in Starbucks Co. (NASDAQ:SBUX – Get Rating) by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,218 shares of the coffee company’s stock after selling 1,090 shares during the period. Vaughan David Investments LLC IL’s holdings in Starbucks were worth $376,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Starbucks by 2.9% during the third quarter. Geode Capital Management LLC now owns 20,109,266 shares of the coffee company’s stock valued at $2,212,852,000 after purchasing an additional 563,271 shares during the period. Morgan Stanley raised its position in Starbucks by 3.1% during the second quarter. Morgan Stanley now owns 13,016,786 shares of the coffee company’s stock valued at $1,455,407,000 after purchasing an additional 396,104 shares during the period. Capital Research Global Investors raised its position in Starbucks by 3.9% during the third quarter. Capital Research Global Investors now owns 9,273,119 shares of the coffee company’s stock valued at $1,022,918,000 after purchasing an additional 345,492 shares during the period. Wellington Management Group LLP raised its position in Starbucks by 86.6% during the third quarter. Wellington Management Group LLP now owns 5,239,631 shares of the coffee company’s stock valued at $577,984,000 after purchasing an additional 2,432,001 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Starbucks by 150.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,375,236 shares of the coffee company’s stock valued at $482,632,000 after purchasing an additional 2,629,721 shares during the period. Institutional investors own 69.21% of the company’s stock.
A number of research analysts have recently commented on the company. BTIG Research cut their target price on Starbucks from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, April 20th. JPMorgan Chase & Co. raised Starbucks from a “neutral” rating to an “overweight” rating and set a $101.00 target price on the stock in a research note on Wednesday, March 16th. BMO Capital Markets cut their target price on Starbucks from $115.00 to $105.00 in a research note on Wednesday, May 4th. Robert W. Baird cut their target price on Starbucks from $95.00 to $85.00 in a research note on Monday, April 25th. Finally, Guggenheim cut their target price on Starbucks from $95.00 to $87.00 in a research note on Wednesday, April 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.96.
Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The coffee company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Starbucks had a net margin of 14.07% and a negative return on equity of 53.43%. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 2.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Friday, May 13th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.96 annualized dividend and a dividend yield of 2.59%. Starbucks’s dividend payout ratio is presently 52.55%.
In other Starbucks news, CEO Howard D. Schultz acquired 137,500 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the acquisition, the chief executive officer now owns 19,534,460 shares in the company, valued at approximately $1,419,569,208.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.
About Starbucks (Get Rating)
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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