Douglas Lane & Associates LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 39.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,861 shares of the coffee company’s stock after selling 26,759 shares during the period. Douglas Lane & Associates LLC’s holdings in Starbucks were worth $2,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Appropriate Balance Financial Services Inc. lifted its stake in Starbucks by 1.6% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Union Bankshares Corp lifted its stake in Starbucks by 0.4% during the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after acquiring an additional 14 shares during the period. Ken Stern & Associates Inc. lifted its stake in Starbucks by 0.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after acquiring an additional 23 shares during the period. Vaughan David Investments Inc. IL lifted its stake in Starbucks by 0.6% during the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after acquiring an additional 26 shares during the period. Finally, Spectrum Management Group Inc. lifted its stake in Starbucks by 0.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after acquiring an additional 30 shares during the period. Institutional investors own 70.67% of the company’s stock.

Several brokerages have commented on SBUX. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective for the company. in a research note 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 note on Wednesday, November 15th. Morgan Stanley boosted their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $63.26.

Shares of Starbucks Co. (SBUX) opened at $57.73 on Thursday. The company has a market cap of $82,140.00, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.59 and a beta of 0.76. 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 Co. has a 1-year low of $52.58 and a 1-year high of $64.87.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS 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 had a net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. analysts expect that Starbucks Co. will post 2.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is presently 60.91%.

In related news, SVP Paul Mutty sold 3,000 shares of the business’s 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 owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the business’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 completion of the sale, 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 sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by insiders.

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Starbucks 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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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