Jennison Associates LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,370 shares of the coffee company’s stock after selling 200,564 shares during the quarter. Jennison Associates LLC’s holdings in Starbucks were worth $11,163,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Ken Stern & Associates Inc. increased its holdings in shares of Starbucks by 0.4% in the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after purchasing an additional 23 shares during the period. Spectrum Management Group Inc. increased its stake in Starbucks by 0.3% in the second 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 last quarter. Risk Paradigm Group LLC increased its stake in Starbucks by 0.7% in the second quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock valued at $436,000 after acquiring an additional 50 shares during the last quarter. South Texas Money Management Ltd. increased its stake in Starbucks by 0.3% in the second quarter. South Texas Money Management Ltd. now owns 23,826 shares of the coffee company’s stock valued at $1,389,000 after acquiring an additional 75 shares during the last quarter. Finally, Hedeker Wealth LLC boosted its position in Starbucks by 0.4% during the second quarter. Hedeker Wealth LLC now owns 18,327 shares of the coffee company’s stock valued at $1,068,000 after buying an additional 76 shares during the period. 73.63% of the stock is owned by hedge funds and other institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the 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 owns 39,000 shares of the company’s stock, valued at $2,126,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Corporate insiders own 3.48% of the company’s stock.
Starbucks Co. (SBUX) opened at $59.05 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.01 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. The stock has a market cap of $83,492.64, a P/E ratio of 27.00, a P/E/G ratio of 1.64 and a beta of 0.66.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 period in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities research analysts forecast that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. Starbucks’s dividend payout ratio (DPR) 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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