Starbucks Co. (SBUX) Position Decreased by Wright Investors Service Inc.

Wright Investors Service Inc. decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 26.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,989 shares of the coffee company’s stock after selling 6,175 shares during the quarter. Wright Investors Service Inc.’s holdings in Starbucks were worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bank of Hawaii lifted its stake in Starbucks by 1.3% in the 1st quarter. Bank of Hawaii now owns 57,240 shares of the coffee company’s stock worth $3,342,000 after acquiring an additional 747 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of 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 raised its stake in shares of 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. Cibc World Markets Corp raised its stake in shares of 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. Finally, SVA Plumb Wealth Management LLC raised its stake in shares of Starbucks by 10.1% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 35,554 shares of the coffee company’s stock worth $2,076,000 after purchasing an additional 3,250 shares in the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Howard D. Schultz sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $57.28, for a total value of $1,432,000.00. Following the completion of the sale, the insider now directly owns 29,798,282 shares in the company, valued at approximately $1,706,845,592.96. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 in the last ninety days. Insiders own 3.40% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Morgan Stanley raised their price target on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Tigress Financial assumed coverage on Starbucks in a research note on Wednesday. They set a “buy” rating for the company. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a research note on Monday, November 13th. Finally, UBS Group set a $64.00 price target on Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Starbucks has an average rating of “Buy” and an average target price of $63.26.

Shares of Starbucks Co. (NASDAQ:SBUX) opened at $57.81 on Friday. The stock has a market capitalization of $82,250.00, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.76. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. equities research analysts forecast that Starbucks Co. will post 2.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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