Crossmark Global Holdings Inc. lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,143 shares of the coffee company’s stock after selling 12,866 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Starbucks were worth $14,366,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Janus Henderson Group PLC increased its stake in Starbucks by 3,076.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after purchasing an additional 13,452,551 shares in the last quarter. Parnassus Investments CA acquired a new position in Starbucks during the 3rd quarter valued at approximately $498,863,000. Capital International Investors increased its stake in Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Harding Loevner LP acquired a new position in Starbucks during the 3rd quarter valued at approximately $128,044,000. Finally, Renaissance Technologies LLC increased its stake in Starbucks by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares in the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $59.05 on Wednesday. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87. The stock has a market cap of $83,000.00, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.62 and a beta of 0.67. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.03%. The ex-dividend date was Wednesday, February 7th. Starbucks’s payout ratio is 38.34%.
SBUX has been the topic of a number of recent analyst reports. Vetr upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target on the stock in a research note on Tuesday, November 14th. UBS Group set a $64.00 price target on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Tigress Financial assumed coverage on shares of Starbucks in a report on Wednesday, December 27th. They issued a “buy” rating on the stock. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Starbucks in a report on Friday, January 5th. Thirteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.57.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the transaction, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
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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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