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.
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%.
WARNING: This article was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/29/starbucks-co-sbux-position-decreased-by-wright-investors-service-inc.html.
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.
What are top analysts saying about Starbucks? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Starbucks and related companies.