Starbucks Co. (SBUX) Shares Sold by Fieldpoint Private Securities LLC

Fieldpoint Private Securities LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,519 shares of the coffee company’s stock after selling 3,480 shares during the period. Fieldpoint Private Securities LLC’s holdings in Starbucks were worth $891,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBUX. Parnassus Investments CA purchased a new stake in shares of Starbucks during the 3rd quarter worth about $498,863,000. Magellan Asset Management Ltd raised its stake in shares of Starbucks by 18.1% during the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock worth $1,775,321,000 after purchasing an additional 4,744,675 shares in the last quarter. Capital International Investors raised its stake in shares of Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Harding Loevner LP purchased a new stake in shares of Starbucks during the 3rd quarter worth about $128,044,000. Finally, Lazard Asset Management LLC raised its stake in shares of Starbucks by 300.6% during the 4th quarter. Lazard Asset Management LLC now owns 4,051,366 shares of the coffee company’s stock worth $232,669,000 after purchasing an additional 3,040,030 shares in the last quarter. 73.47% of the stock is owned by hedge funds and other institutional investors.

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In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the sale, the director now owns 26,500 shares of the company’s stock, valued at approximately $1,592,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders sold a total of 247,664 shares of company stock worth $14,243,602 in the last ninety days. Insiders own 3.48% of the company’s stock.

A number of research firms have recently weighed in on SBUX. Vetr raised Starbucks from a “hold” rating to a “buy” rating and set a $59.39 price target for the company in a research note on Tuesday, April 3rd. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. BidaskClub raised Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, March 30th. Cowen downgraded Starbucks from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $68.00 to $65.00 in a research note on Friday. Finally, UBS set a $66.00 price target on Starbucks and gave the stock a “buy” rating in a research note on Thursday, March 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nineteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $64.17.

SBUX opened at $59.43 on Tuesday. The company has a market capitalization of $83,267.74, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.63. 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 12-month low of $52.58 and a 12-month high of $64.87.

Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. research analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.

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About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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