Jennison Associates LLC cut its position in Starbucks Corporation (NASDAQ:SBUX) by 95.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 863,681 shares of the coffee company’s stock after selling 18,832,041 shares during the period. Jennison Associates LLC’s holdings in Starbucks Corporation were worth $50,430,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Ariel Capital Advisors LLC raised its position in shares of Starbucks Corporation by 7.2% in the first quarter. Ariel Capital Advisors LLC now owns 52,889 shares of the coffee company’s stock worth $3,088,000 after buying an additional 3,554 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in shares of Starbucks Corporation by 1.4% in the first quarter. Weatherly Asset Management L. P. now owns 163,906 shares of the coffee company’s stock worth $9,570,000 after buying an additional 2,235 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Starbucks Corporation by 0.4% in the first quarter. Arcadia Investment Management Corp MI now owns 192,670 shares of the coffee company’s stock worth $11,250,000 after buying an additional 709 shares during the period. Markel Corp boosted its stake in shares of Starbucks Corporation by 116.7% in the first quarter. Markel Corp now owns 26,000 shares of the coffee company’s stock worth $1,518,000 after buying an additional 14,000 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Starbucks Corporation by 43.1% in the first quarter. Canada Pension Plan Investment Board now owns 1,625,932 shares of the coffee company’s stock worth $94,938,000 after buying an additional 489,506 shares during the period. 71.13% of the stock is currently owned by hedge funds and other institutional investors.

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

Starbucks Corporation (SBUX) opened at 60.14 on Friday. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a 50 day moving average of $61.48 and a 200 day moving average of $58.34. The company has a market capitalization of $87.09 billion, a price-to-earnings ratio of 29.74 and a beta of 0.76.

Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post $2.10 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Thursday, May 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, May 9th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 49.75%.

COPYRIGHT VIOLATION NOTICE: “Starbucks Corporation (SBUX) Position Cut by Jennison Associates LLC” was posted by Watch List News and is owned by of Watch List News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/starbucks-corporation-sbux-position-cut-by-jennison-associates-llc-2/1371911.html.

SBUX has been the subject of a number of research reports. Vetr cut shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.66 price objective for the company. in a research note on Tuesday, March 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, May 12th. Zacks Investment Research cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Starbucks Corporation has an average rating of “Buy” and a consensus target price of $65.15.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the sale, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,826 shares of company stock valued at $8,642,454. 3.40% of the stock is owned by insiders.

Starbucks Corporation Company 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.