Starbucks Co. (SBUX) Position Reduced by Winfield Associates Inc.
Winfield Associates Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 45.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,255 shares of the coffee company’s stock after selling 2,735 shares during the period. Winfield Associates Inc.’s holdings in Starbucks were worth $185,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC boosted its stake in shares of Starbucks by 232.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,784 shares of the coffee company’s stock valued at $571,000 after buying an additional 6,843 shares during the period. IFG Advisory LLC lifted its stake in shares of Starbucks by 10.6% in the 3rd quarter. IFG Advisory LLC now owns 16,014 shares of the coffee company’s stock valued at $910,000 after purchasing an additional 1,533 shares during the last quarter. ProVise Management Group LLC lifted its stake in shares of Starbucks by 13.4% in the 3rd quarter. ProVise Management Group LLC now owns 40,988 shares of the coffee company’s stock valued at $2,330,000 after purchasing an additional 4,844 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Starbucks in the 3rd quarter valued at $275,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Starbucks by 8.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 191,192 shares of the coffee company’s stock valued at $10,867,000 after purchasing an additional 14,530 shares during the last quarter. 71.41% of the stock is owned by institutional investors.
In related news, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction on Monday, August 20th. The stock was sold at an average price of $53.98, for a total transaction of $809,700.00. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at approximately $1,565,420. The disclosure for this sale can be found here. Insiders sold a total of 280,832 shares of company stock worth $15,052,087 in the last quarter. Insiders own 3.48% of the company’s stock.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. On average, research analysts expect that Starbucks Co. will post 2.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.12%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
SBUX has been the subject of several analyst reports. Barclays reduced their price objective on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a research note on Wednesday, July 18th. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. KeyCorp reaffirmed a “buy” rating on shares of Starbucks in a research note on Thursday, October 4th. Bank of America lifted their price objective on shares of Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Finally, ValuEngine raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Starbucks has a consensus rating of “Buy” and a consensus price target of $64.66.
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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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Further Reading: Average Daily Trade Volume – What It Means In Stock Trading
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