Raymond James Financial Services Advisors Inc. Lowers Stake in Starbucks Co. (SBUX)

Raymond James Financial Services Advisors Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 7.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 308,202 shares of the coffee company’s stock after selling 24,676 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Starbucks were worth $16,554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd grew its stake in Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Janus Henderson Group PLC grew its stake in Starbucks by 3,076.5% in 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 during the period. Renaissance Technologies LLC grew its stake in Starbucks by 539.2% in 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 during the period. Vanguard Group Inc. grew its stake in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Starbucks by 3,007.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after purchasing an additional 1,843,500 shares during the period. 70.67% of the stock is owned by institutional investors and hedge funds.

In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock worth $28,559,521 in the last three months. 3.40% of the stock is currently owned by insiders.

A number of brokerages have issued reports on SBUX. Stephens restated an “equal weight” rating and issued a $52.00 price objective (down previously from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Credit Suisse Group reduced their price objective on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. Zacks Investment Research upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, OTR Global upgraded Starbucks to a “positive” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $63.26.

Shares of Starbucks Co. (SBUX) opened at $57.30 on Tuesday. The stock has a market capitalization of $81,530.00, a PE ratio of 29.09, a P/E/G ratio of 1.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. analysts expect that Starbucks Co. will post 2.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a dividend of $0.30 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.09%. Starbucks’s dividend payout ratio is 60.91%.

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Starbucks 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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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