WestEnd Advisors LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% in the fourth quarter, HoldingsChannel reports. The firm owned 791,377 shares of the coffee company’s stock after selling 61,488 shares during the period. Starbucks comprises approximately 4.2% of WestEnd Advisors LLC’s investment portfolio, making the stock its 13th largest position. WestEnd Advisors LLC’s holdings in Starbucks were worth $45,449,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bray Capital Advisors lifted its position in shares of Starbucks by 3.8% in the 4th quarter. Bray Capital Advisors now owns 56,816 shares of the coffee company’s stock worth $3,263,000 after buying an additional 2,091 shares during the last quarter. Dowling & Yahnke LLC lifted its position in shares of Starbucks by 0.9% in the 4th quarter. Dowling & Yahnke LLC now owns 113,474 shares of the coffee company’s stock worth $6,517,000 after buying an additional 1,016 shares during the last quarter. Harbour Investment Management LLC bought a new position in shares of Starbucks in the 4th quarter worth about $4,662,000. Lee Danner & Bass Inc. lifted its position in shares of Starbucks by 2.5% in the 4th quarter. Lee Danner & Bass Inc. now owns 63,375 shares of the coffee company’s stock worth $3,640,000 after buying an additional 1,572 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Starbucks by 4.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 273,258 shares of the coffee company’s stock worth $15,693,000 after buying an additional 12,629 shares during the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on SBUX shares. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price target on the stock. in a research report on Monday, January 8th. Tigress Financial began coverage on shares of Starbucks in a research report on Wednesday, December 27th. They issued a “buy” rating on the stock. Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and lowered their target price for the company from $73.00 to $68.00 in a research note on Friday, January 26th. William Blair reaffirmed an “outperform” rating on shares of Starbucks in a research note on Friday, January 26th. Finally, Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $64.57.
Starbucks Co. (SBUX) opened at $58.46 on Monday. The firm has a market capitalization of $82,171.38, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter last year, the business earned $0.52 earnings per share. Starbucks’s revenue was up 5.9% on a year-over-year basis. sell-side analysts expect that Starbucks Co. will post 2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio is currently 39.60%.
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Starbucks Company 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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