LS Investment Advisors LLC Sells 15,237 Shares of Starbucks Co. (SBUX)
LS Investment Advisors LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 28.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,739 shares of the coffee company’s stock after selling 15,237 shares during the quarter. LS Investment Advisors LLC’s holdings in Starbucks were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Starbucks by 12.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after buying an additional 10,250 shares during the period. Geneva Advisors LLC lifted its holdings in shares of Starbucks by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after buying an additional 63,041 shares during the period. Private Vista LLC lifted its holdings in shares of Starbucks by 3,334.9% in the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after buying an additional 213,303 shares during the period. Welch Group LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $406,000. Finally, TrimTabs Asset Management LLC lifted its holdings in shares of Starbucks by 104.9% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock valued at $250,000 after buying an additional 2,199 shares during the period. 70.67% of the stock is owned by institutional investors.
Several analysts have recently commented on SBUX shares. Vetr raised Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target for the company in a report on Tuesday, November 14th. Nomura reduced their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a report on Monday, November 6th. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $63.26.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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 the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. sell-side analysts forecast that Starbucks Co. will post 2.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is currently 60.91%.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 497,808 shares of company stock valued at $28,559,521. Company insiders own 3.40% of the company’s stock.
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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