Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in Starbucks Co. (SBUX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,625,953 shares of the coffee company’s stock after selling 112,445 shares during the quarter. Starbucks accounts for approximately 1.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 24th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.12% of Starbucks worth $92,419,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Starbucks by 0.6% during the second quarter. BlackRock Inc. now owns 84,654,465 shares of the coffee company’s stock worth $4,135,368,000 after buying an additional 477,124 shares during the last quarter. Morgan Stanley increased its holdings in Starbucks by 2.0% during the second quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock worth $2,301,661,000 after buying an additional 928,175 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in Starbucks by 5.2% during the second quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock worth $1,582,355,000 after buying an additional 1,613,187 shares during the last quarter. Polen Capital Management LLC increased its holdings in Starbucks by 0.5% during the second quarter. Polen Capital Management LLC now owns 12,286,385 shares of the coffee company’s stock worth $600,190,000 after buying an additional 56,588 shares during the last quarter. Finally, Parnassus Investments CA increased its holdings in Starbucks by 26.8% during the second quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock worth $588,767,000 after buying an additional 2,543,697 shares during the last quarter. 71.86% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SBUX opened at $64.32 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 1.01. Starbucks Co. has a one year low of $47.37 and a one year high of $65.68. The firm has a market capitalization of $86.77 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 1.75 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 70.00%. The business had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the company posted $0.55 earnings per share. Starbucks’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 2.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

In other Starbucks news, insider Rosalind G. Brewer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average cost of $54.04 per share, for a total transaction of $270,200.00. Following the completion of the purchase, the insider now owns 7,302 shares of the company’s stock, valued at approximately $394,600.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the transaction, the director now owns 29,000 shares in the company, valued at $1,596,450. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock worth $15,052,087 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. Barclays boosted their target price on shares of Starbucks from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday. BMO Capital Markets boosted their target price on shares of Starbucks from $51.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday. Wedbush boosted their target price on shares of Starbucks from $53.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday. Oppenheimer boosted their target price on shares of Starbucks from $61.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Bank of America set a $68.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the stock. Starbucks has an average rating of “Buy” and an average price target of $62.75.

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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