Marcus Capital LLC Lowers Holdings in Starbucks Corporation (SBUX)

Marcus Capital LLC trimmed its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,350 shares of the coffee company’s stock after selling 1,200 shares during the period. Starbucks Corporation comprises 2.6% of Marcus Capital LLC’s holdings, making the stock its 14th biggest holding. Marcus Capital LLC’s holdings in Starbucks Corporation were worth $3,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SBUX. FormulaFolio Investments LLC purchased a new stake in Starbucks Corporation in the 1st quarter valued at about $271,000. IMS Capital Management boosted its position in Starbucks Corporation by 6.1% in the 1st quarter. IMS Capital Management now owns 27,906 shares of the coffee company’s stock valued at $1,629,000 after buying an additional 1,613 shares during the period. Pettyjohn Wood & White Inc. boosted its position in Starbucks Corporation by 2.0% in the 1st quarter. Pettyjohn Wood & White Inc. now owns 35,540 shares of the coffee company’s stock valued at $2,075,000 after buying an additional 700 shares during the period. Symphony Asset Management LLC raised its holdings in shares of Starbucks Corporation by 14.9% in the 1st quarter. Symphony Asset Management LLC now owns 82,119 shares of the coffee company’s stock valued at $4,795,000 after purchasing an additional 10,633 shares in the last quarter. Finally, First Personal Financial Services raised its holdings in shares of Starbucks Corporation by 10.2% in the 1st quarter. First Personal Financial Services now owns 20,751 shares of the coffee company’s stock valued at $1,212,000 after purchasing an additional 1,922 shares in the last quarter. 72.01% of the stock is owned by institutional investors.

Starbucks Corporation (NASDAQ SBUX) opened at $56.70 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. The stock has a market cap of $81,500.98, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly 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. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Starbucks Corporation’s revenue for the quarter was down .2% compared to the same quarter last year. equities research analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

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In other news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders have sold a total of 150,708 shares of company stock worth $8,322,192 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Several research firms have recently commented on SBUX. Credit Suisse Group reduced their price target on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wedbush restated a “neutral” rating and issued a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $63.31.

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

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