Bfsg LLC Trims Position in Starbucks Corporation (SBUX)

Bfsg LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,871 shares of the coffee company’s stock after selling 2,389 shares during the quarter. Starbucks Corporation comprises 1.2% of Bfsg LLC’s investment portfolio, making the stock its 28th largest holding. Bfsg LLC’s holdings in Starbucks Corporation were worth $2,383,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Jacobi Capital Management LLC increased its stake in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the period. Gradient Investments LLC increased its stake in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares during the period. Sharkey Howes & Javer increased its stake in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the period. IHT Wealth Management LLC increased its stake in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC acquired a new position in Starbucks Corporation in the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 72.01% of the company’s stock.

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SBUX has been the topic of several recent research reports. UBS AG dropped their price objective on shares of Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Cowen and Company reissued a “buy” rating and issued a $63.00 price objective on shares of Starbucks Corporation in a research note on Friday, September 1st. Mizuho set a $75.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday, November 1st. Vetr cut shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective on the stock. in a research note on Thursday, November 2nd. Finally, Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Twelve investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation has an average rating of “Buy” and a consensus target price of $63.31.

In other news, insider John Culver sold 64,776 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,708 shares of company stock worth $8,322,192. 3.40% of the stock is owned by insiders.

Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Wednesday. The stock has a market cap of $81,085.82, a PE ratio of 27.36, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. equities research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio is 50.76%.

About Starbucks Corporation

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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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