Starbucks Co. (SBUX) Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,920 shares of the coffee company’s stock after selling 17,494 shares during the period. Victory Capital Management Inc.’s holdings in Starbucks were worth $18,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wayne Hummer Investments L.L.C. bought a new position in Starbucks during the 1st quarter worth about $498,000. Bank of Hawaii increased its holdings in Starbucks by 1.3% during the 1st quarter. Bank of Hawaii now owns 57,240 shares of the coffee company’s stock worth $3,342,000 after purchasing an additional 747 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Starbucks by 26.7% during the 1st quarter. William Blair Investment Management LLC now owns 3,134,322 shares of the coffee company’s stock worth $183,013,000 after purchasing an additional 659,807 shares in the last quarter. Noesis Capital Mangement Corp increased its holdings in Starbucks by 41.8% during the 1st quarter. Noesis Capital Mangement Corp now owns 5,769 shares of the coffee company’s stock worth $337,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Cibc World Markets Corp increased its holdings in Starbucks by 20.0% during the 1st quarter. Cibc World Markets Corp now owns 152,207 shares of the coffee company’s stock worth $8,887,000 after purchasing an additional 25,373 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

In other news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 over the last ninety days. Insiders own 3.40% of the company’s stock.

A number of research firms have issued reports on SBUX. Credit Suisse Group lowered their target price on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Deutsche Bank reiterated a “buy” rating and set a $67.00 target price on shares of Starbucks in a report on Monday, October 9th. BMO Capital Markets restated a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. OTR Global upgraded shares of Starbucks to a “positive” rating in a research note on Thursday, October 26th. Finally, Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price objective for the company. in a research note on Monday, November 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.26.

Shares of Starbucks Co. (SBUX) opened at $57.14 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market cap of $81,526.45, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 1.57 and a beta of 0.75. 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 the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. sell-side analysts anticipate that Starbucks Co. will post 2.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.

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About Starbucks

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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