Olstein Capital Management L.P. Has $1.09 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Olstein Capital Management L.P. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 73.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the coffee company’s stock after selling 36,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Starbucks were worth $1,090,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBUX. FMR LLC grew its holdings in Starbucks by 19.8% during the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock valued at $774,936,000 after purchasing an additional 1,720,231 shares during the period. Dimensional Fund Advisors LP grew its holdings in Starbucks by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock valued at $264,063,000 after purchasing an additional 20,719 shares during the period. American Century Companies Inc. grew its holdings in Starbucks by 12.8% during the fourth quarter. American Century Companies Inc. now owns 3,339,579 shares of the coffee company’s stock valued at $215,069,000 after purchasing an additional 378,461 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Starbucks by 162.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock valued at $278,964,000 after purchasing an additional 2,058,082 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Starbucks by 2.4% during the first quarter. California Public Employees Retirement System now owns 3,141,872 shares of the coffee company’s stock valued at $233,567,000 after purchasing an additional 72,485 shares during the period. Institutional investors own 72.54% of the company’s stock.

Shares of SBUX stock traded up $0.39 during trading on Tuesday, reaching $95.30. The company’s stock had a trading volume of 3,346,223 shares, compared to its average volume of 7,981,200. The firm’s fifty day moving average is $90.92. The stock has a market capitalization of $113.28 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. Starbucks Co. has a one year low of $51.47 and a one year high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Analysts predict that Starbucks Co. will post 2.82 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total transaction of $759,144.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Culver sold 63,937 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. Insiders have sold 133,738 shares of company stock worth $11,291,327 over the last ninety days. Insiders own 3.98% of the company’s stock.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price objective on shares of Starbucks to $84.00 and gave the company a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Credit Suisse Group assumed coverage on shares of Starbucks in a report on Tuesday, June 25th. They set an “outperform” rating and a $92.00 price objective for the company. UBS Group boosted their price objective on shares of Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Barclays boosted their price objective on shares of Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.53.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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