Fmr LLC Sells 9,164,997 Shares of Starbucks Corporation (SBUX)
Fmr LLC trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 18.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,834,045 shares of the coffee company’s stock after selling 9,164,997 shares during the quarter. Fmr LLC owned approximately 2.76% of Starbucks Corporation worth $2,322,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Magellan Asset Management Ltd grew its position in shares of Starbucks Corporation by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Starbucks Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Starbucks Corporation by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after buying an additional 1,809,166 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Starbucks Corporation by 60.0% in the 2nd quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock worth $261,014,000 after buying an additional 1,678,506 shares during the last quarter. Finally, State Street Corp grew its position in shares of Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
In other Starbucks Corporation news, insider Howard D. Schultz sold 25,000 shares of Starbucks Corporation stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the completion of the transaction, the insider now owns 29,798,282 shares in the company, valued at $1,706,845,592.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the transaction, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders have sold 525,550 shares of company stock valued at $29,688,442 in the last quarter. 3.40% of the stock is owned by company insiders.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data 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 business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. equities research analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. Starbucks Corporation’s payout ratio is presently 60.91%.
A number of brokerages have recently weighed in on SBUX. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.05 price objective on the stock in a research report on Tuesday. UBS AG set a $64.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley lifted their price objective on Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Credit Suisse Group reiterated a “buy” rating on shares of Starbucks Corporation in a research report on Monday, November 6th. Finally, Deutsche Bank AG cut their price objective on Starbucks Corporation to $62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $63.31.
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Starbucks Corporation Profile
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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