West Oak Capital LLC Sells 2,559 Shares of Starbucks Co. (SBUX)
West Oak Capital LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,349 shares of the coffee company’s stock after selling 2,559 shares during the period. Starbucks comprises approximately 1.2% of West Oak Capital LLC’s portfolio, making the stock its 22nd biggest position. West Oak Capital LLC’s holdings in Starbucks were worth $1,915,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Janus Henderson Group PLC boosted its stake in shares of Starbucks by 3,076.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after buying an additional 13,452,551 shares during the last quarter. Parnassus Investments CA purchased a new position in shares of Starbucks in the 3rd quarter worth approximately $498,863,000. Capital International Investors boosted its stake in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares during the last quarter. Harding Loevner LP purchased a new position in shares of Starbucks in the 3rd quarter worth approximately $128,044,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Starbucks by 539.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after buying an additional 3,305,700 shares during the last quarter. 71.92% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group cut their target price on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Goldman Sachs Group downgraded Starbucks from a “conviction-buy” rating to a “buy” rating and cut their target price for the stock from $73.00 to $68.00 in a research note on Friday, January 26th. BTIG Research restated a “buy” rating and issued a $64.00 target price on shares of Starbucks in a research note on Friday, January 26th. OTR Global upgraded Starbucks to a “positive” rating in a research note on Thursday, October 26th. Finally, BMO Capital Markets cut their target price on Starbucks from $56.00 to $52.00 and set a “market perform” rating on the stock in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.63.
Shares of Starbucks Co. (SBUX) opened at $54.58 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The stock has a market cap of $77,660.00, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. equities research analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. Starbucks’s payout ratio is 39.60%.
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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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