Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,514 shares of the coffee company’s stock after selling 34,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Starbucks were worth $21,736,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Polen Capital Management LLC lifted its position in shares of Starbucks by 46.8% in the third quarter. Polen Capital Management LLC now owns 18,035,326 shares of the coffee company’s stock valued at $1,025,128,000 after buying an additional 5,748,941 shares during the last quarter. BlackRock Inc. lifted its position in shares of Starbucks by 6.8% in the third quarter. BlackRock Inc. now owns 90,368,884 shares of the coffee company’s stock valued at $5,136,569,000 after buying an additional 5,714,419 shares during the last quarter. Magellan Asset Management Ltd lifted its position in shares of Starbucks by 17.5% in the third quarter. Magellan Asset Management Ltd now owns 38,067,340 shares of the coffee company’s stock valued at $2,163,748,000 after buying an additional 5,675,224 shares during the last quarter. Capital World Investors lifted its position in shares of Starbucks by 33.3% in the third quarter. Capital World Investors now owns 11,222,132 shares of the coffee company’s stock valued at $637,866,000 after buying an additional 2,805,225 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Starbucks by 4.8% in the third quarter. Morgan Stanley now owns 49,371,647 shares of the coffee company’s stock valued at $2,806,283,000 after buying an additional 2,254,701 shares during the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.
Starbucks stock opened at $69.75 on Wednesday. Starbucks Co. has a one year low of $47.37 and a one year high of $70.46. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.16 and a current ratio of 1.41. The firm has a market cap of $86.74 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 2.00 and a beta of 0.48.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, February 7th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 2.06%. Starbucks’s payout ratio is 59.50%.
In other news, insider Clifford Burrows sold 152,634 shares of Starbucks stock in a transaction on Tuesday, January 29th. The stock was sold at an average price of $67.22, for a total value of $10,260,057.48. Following the transaction, the insider now owns 311,083 shares in the company, valued at approximately $20,910,999.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Culver sold 169,096 shares of Starbucks stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $68.81, for a total value of $11,635,495.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 495,442 shares of company stock worth $33,860,990. Corporate insiders own 3.98% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a report on Monday, January 28th. BidaskClub cut Starbucks from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. BMO Capital Markets lifted their price target on Starbucks to $63.00 and gave the stock a “market perform” rating in a report on Friday, December 14th. They noted that the move was a valuation call. Piper Jaffray Companies lifted their price target on Starbucks from $53.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Finally, Royal Bank of Canada lifted their price target on Starbucks to $68.00 and gave the stock a “positive” rating in a report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Starbucks presently has a consensus rating of “Hold” and a consensus target price of $67.01.
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Starbucks Company 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.
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