QV Investors Inc. Sells 880 Shares of Starbucks Co. (NASDAQ:SBUX)

QV Investors Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,840 shares of the coffee company’s stock after selling 880 shares during the period. QV Investors Inc.’s holdings in Starbucks were worth $2,650,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Public Employees Retirement Association of Colorado boosted its stake in Starbucks by 3.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 223,354 shares of the coffee company’s stock valued at $14,683,000 after acquiring an additional 8,364 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in Starbucks by 13.5% during the first quarter. Silvercrest Asset Management Group LLC now owns 54,905 shares of the coffee company’s stock worth $3,609,000 after acquiring an additional 6,515 shares during the last quarter. APG Asset Management N.V. boosted its position in Starbucks by 1.1% during the first quarter. APG Asset Management N.V. now owns 4,546,743 shares of the coffee company’s stock worth $298,903,000 after acquiring an additional 48,857 shares during the last quarter. Sunbelt Securities Inc. boosted its position in Starbucks by 23.8% during the first quarter. Sunbelt Securities Inc. now owns 24,389 shares of the coffee company’s stock worth $1,824,000 after acquiring an additional 4,690 shares during the last quarter. Finally, London & Capital Asset Management Ltd acquired a new position in Starbucks during the first quarter worth about $230,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Shares of SBUX stock opened at $88.52 on Friday. The company has a market cap of $103.48 billion, a P/E ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81. The firm has a fifty day moving average price of $86.35 and a 200 day moving average price of $78.11. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $94.13.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The company had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the business earned $0.78 EPS. Starbucks’s revenue for the quarter was down 38.1% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 0.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be paid a $0.45 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, November 10th. Starbucks’s dividend payout ratio is currently 57.95%.

SBUX has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Starbucks from $85.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, October 5th. Morgan Stanley boosted their target price on shares of Starbucks from $79.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup boosted their target price on shares of Starbucks from $87.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 30th. MKM Partners boosted their target price on shares of Starbucks from $74.00 to $79.00 in a report on Wednesday, July 29th. Finally, Wedbush boosted their target price on shares of Starbucks from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. They noted that the move was a valuation call. Sixteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $86.73.

In related news, Director Myron E. Ullman III sold 4,252 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $84.77, for a total value of $360,442.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin R. Johnson sold 107,762 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $90.08, for a total transaction of $9,707,200.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,764 shares of company stock worth $13,404,656. 0.41% of the stock is owned by corporate insiders.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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