Janus Capital Management LLC trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,949,550 shares of the coffee company’s stock after selling 1,676,476 shares during the quarter. Starbucks Corporation makes up approximately 0.7% of Janus Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Janus Capital Management LLC owned approximately 1.03% of Starbucks Corporation worth $872,896,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its holdings in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in shares of Starbucks Corporation in the first quarter worth approximately $122,000. Kings Point Capital Management increased its position in shares of Starbucks Corporation by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after purchasing an additional 425 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Starbucks Corporation in the first quarter worth approximately $140,000. Finally, Hanson McClain Inc. increased its position in shares of Starbucks Corporation by 21.2% in the first quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock worth $175,000 after purchasing an additional 523 shares during the last quarter. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.39% during trading on Tuesday, reaching $53.81. The company’s stock had a trading volume of 4,212,108 shares. The stock has a market cap of $77.70 billion, a price-to-earnings ratio of 27.16 and a beta of 0.78. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a 50-day moving average price of $54.65 and a 200-day moving average price of $57.99.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. On average, equities research analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
In related news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares in the company, valued at approximately $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen and Company restated a “buy” rating and issued a $63.00 price objective on shares of Starbucks Corporation in a research report on Friday, September 1st. Wedbush upgraded shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $57.00 to $60.00 in a research report on Friday, August 25th. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research report on Wednesday, August 23rd. Finally, Cleveland Research cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Twelve equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus price target of $64.64.
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Starbucks Corporation 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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