Raab & Moskowitz Asset Management LLC Sells 482 Shares of Starbucks Corporation (SBUX)
Raab & Moskowitz Asset Management LLC cut its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,698 shares of the coffee company’s stock after selling 482 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Starbucks were worth $1,788,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Magellan Asset Management Ltd lifted its position in Starbucks by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC lifted its position in Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock valued at $809,917,000 after acquiring an additional 13,452,551 shares during the last quarter. Renaissance Technologies LLC lifted its position in Starbucks by 539.2% during the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after acquiring an additional 3,305,700 shares during the last quarter. Vanguard Group Inc. lifted its position in Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Starbucks by 3,007.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock valued at $111,069,000 after acquiring an additional 1,843,500 shares during the last quarter. Hedge funds and other institutional investors own 71.07% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at $59.27 on Wednesday. The stock has a market cap of $83,970.00, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the company posted $0.56 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. sell-side analysts expect that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 60.91%.
In related news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 target price for the company. in a research report on Monday, November 27th. UBS set a $64.00 target price on shares of Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley increased their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.26.
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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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