Boston Advisors LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Boston Advisors LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 154,062 shares of the coffee company’s stock after selling 36,654 shares during the period. Starbucks makes up 0.7% of Boston Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Boston Advisors LLC’s holdings in Starbucks were worth $13,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. grew its stake in Starbucks by 18.4% during the second quarter. Invesco Ltd. now owns 17,382,380 shares of the coffee company’s stock valued at $1,457,167,000 after acquiring an additional 2,706,533 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Starbucks by 977.6% during the second quarter. Nuveen Asset Management LLC now owns 7,923,411 shares of the coffee company’s stock valued at $664,219,000 after purchasing an additional 7,188,139 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Starbucks by 8.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock valued at $487,122,000 after purchasing an additional 462,682 shares during the last quarter. APG Asset Management N.V. lifted its position in Starbucks by 87.0% during the second quarter. APG Asset Management N.V. now owns 5,538,794 shares of the coffee company’s stock valued at $407,725,000 after purchasing an additional 2,576,900 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Starbucks by 1.5% during the second quarter. UBS Asset Management Americas Inc. now owns 4,634,647 shares of the coffee company’s stock valued at $388,522,000 after purchasing an additional 68,949 shares during the last quarter. Hedge funds and other institutional investors own 70.68% of the company’s stock.

Shares of SBUX opened at $81.77 on Monday. The firm has a market cap of $98.02 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 2.03 and a beta of 0.53. Starbucks Co. has a fifty-two week low of $60.42 and a fifty-two week high of $99.72. The firm has a 50 day moving average price of $85.72 and a 200-day moving average price of $86.55.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.70 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.70. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.68 billion. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts forecast that Starbucks Co. will post 3.05 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.01%. This is an increase from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 12th. Starbucks’s payout ratio is presently 50.88%.

In related news, Director Javier G. Teruel sold 59,838 shares of Starbucks stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction on Friday, November 1st. The stock was sold at an average price of $84.79, for a total transaction of $845,610.67. Following the completion of the transaction, the director now directly owns 28,407 shares in the company, valued at $2,408,629.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,885 shares of company stock worth $10,707,543. 3.98% of the stock is owned by insiders.

SBUX has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on shares of Starbucks from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on shares of Starbucks to $84.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. BTIG Research reiterated a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. Morgan Stanley lifted their target price on shares of Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Stephens lifted their target price on shares of Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $89.64.

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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