Starbucks Co. (SBUX) Shares Sold by Thornburg Investment Management Inc.

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Thornburg Investment Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 715,027 shares of the coffee company’s stock after selling 7,139 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Starbucks were worth $40,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Archford Capital Strategies LLC increased its position in Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after purchasing an additional 1,902 shares in the last quarter. Polaris Greystone Financial Group LLC acquired a new stake in Starbucks during the 3rd quarter worth approximately $107,000. Fort L.P. acquired a new stake in Starbucks during the 2nd quarter worth approximately $112,000. Point72 Hong Kong Ltd acquired a new stake in Starbucks during the 2nd quarter worth approximately $115,000. Finally, RPg Family Wealth Advisory LLC increased its position in Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after purchasing an additional 1,673 shares in the last quarter. 71.77% of the stock is owned by institutional investors.

In other Starbucks news, insider Rosalind G. Brewer bought 5,000 shares of Starbucks stock in a transaction dated Monday, August 20th. The stock was bought at an average cost of $54.04 per share, for a total transaction of $270,200.00. Following the purchase, the insider now owns 7,302 shares in the company, valued at approximately $394,600.08. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at $1,596,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,832 shares of company stock valued at $15,052,087. Company insiders own 3.40% of the company’s stock.

A number of analysts recently issued reports on the stock. UBS Group downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. DZ Bank cut Starbucks to a “sell” rating in a report on Monday, November 5th. Mizuho upgraded Starbucks from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $75.00 in a report on Monday, November 5th. Barclays upped their price target on Starbucks from $56.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, November 2nd. Finally, BMO Capital Markets upped their price target on Starbucks from $51.00 to $58.00 and gave the stock a “market perform” rating in a report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company. Starbucks has an average rating of “Hold” and a consensus target price of $63.48.

Starbucks stock opened at $68.60 on Friday. The company has a market cap of $91.95 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $68.98.

Starbucks (NASDAQ:SBUX) last released its 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. The company had revenue of $6.30 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. As a group, analysts forecast that Starbucks Co. will post 2.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

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Starbucks Profile

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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