Associated Banc Corp lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 19.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,531 shares of the coffee company’s stock after selling 28,177 shares during the quarter. Associated Banc Corp’s holdings in Starbucks Corporation were worth $6,911,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SBUX. Ameriprise Financial Inc. lifted its holdings in shares of Starbucks Corporation by 32.9% in the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the period. Toronto Dominion Bank raised its holdings in Starbucks Corporation by 52.6% in the 1st quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock worth $23,332,000 after purchasing an additional 137,795 shares during the period. Warren Averett Asset Management LLC raised its holdings in Starbucks Corporation by 41.3% in the 1st quarter. Warren Averett Asset Management LLC now owns 5,846 shares of the coffee company’s stock worth $341,000 after purchasing an additional 1,709 shares during the period. Sigma Investment Counselors Inc. acquired a new position in Starbucks Corporation in the 1st quarter worth about $442,000. Finally, Sawtooth Solutions LLC raised its holdings in Starbucks Corporation by 60.1% in the 1st quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after purchasing an additional 6,884 shares during the period. 72.01% of the stock is owned by institutional investors and hedge funds.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The transaction 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 company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 443,884 shares of company stock valued at $25,041,780 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Friday. The firm has a market capitalization of $81,500.98, a P/E ratio of 27.50, a P/E/G ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.11%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio is presently 60.91%.

A number of equities analysts recently weighed in on the company. Credit Suisse Group reduced their price target on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wedbush reaffirmed a “neutral” rating and issued a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.31.

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About Starbucks Corporation

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 Corporation (NASDAQ:SBUX)

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