Ocean Capital Management LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Ocean Capital Management LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 17.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,391 shares of the coffee company’s stock after selling 4,402 shares during the period. Starbucks makes up 1.5% of Ocean Capital Management LLC’s holdings, making the stock its 18th biggest position. Ocean Capital Management LLC’s holdings in Starbucks were worth $1,793,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SBUX. Robeco Institutional Asset Management B.V. raised its stake 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 worth $278,964,000 after purchasing an additional 2,058,082 shares during the period. FMR LLC raised its stake in Starbucks by 19.8% during the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after purchasing an additional 1,720,231 shares during the period. Assenagon Asset Management S.A. raised its stake in Starbucks by 432.2% during the first quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock worth $67,038,000 after purchasing an additional 1,173,260 shares during the period. Teacher Retirement System of Texas raised its stake in Starbucks by 176.4% during the first quarter. Teacher Retirement System of Texas now owns 1,350,796 shares of the coffee company’s stock worth $100,418,000 after purchasing an additional 862,102 shares during the period. Finally, SG Americas Securities LLC raised its stake in Starbucks by 127.0% during the first quarter. SG Americas Securities LLC now owns 182,970 shares of the coffee company’s stock worth $13,602,000 after purchasing an additional 861,478 shares during the period. 72.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SBUX stock traded up $0.35 during trading on Thursday, reaching $95.27. The company’s stock had a trading volume of 372,022 shares, compared to its average volume of 7,953,828. The firm has a market cap of $113.61 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 2.62 and a beta of 0.55. The company has a 50-day simple moving average of $91.38. Starbucks Co. has a 1-year low of $52.30 and a 1-year high of $99.72.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

In other Starbucks news, CAO Jill Walker sold 6,492 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total transaction of $621,284.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kevin R. Johnson sold 23,390 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The disclosure for this sale can be found here. Insiders sold 69,801 shares of company stock valued at $6,301,684 in the last 90 days. Company insiders own 3.98% of the company’s stock.

A number of equities analysts have commented on the stock. OTR Global raised shares of Starbucks to a “positive” rating in a research note on Tuesday, July 16th. BidaskClub raised shares of Starbucks from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Stephens lifted their target price on shares of Starbucks from $72.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Wedbush lifted their price target on shares of Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Finally, Citigroup started coverage on shares of Starbucks in a research report on Wednesday, June 26th. They set a “buy” rating and a $83.65 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $89.53.

Starbucks Profile

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.

See Also: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.