NS Partners Ltd lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 118,877 shares of the coffee company’s stock after selling 28,771 shares during the quarter. NS Partners Ltd’s holdings in Starbucks were worth $9,965,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Starbucks by 162.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock worth $278,964,000 after purchasing an additional 2,058,082 shares during the period. FMR LLC lifted its holdings in shares of Starbucks by 19.8% during the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after purchasing an additional 1,720,231 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Starbucks by 432.2% during the first quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock worth $67,038,000 after purchasing an additional 1,173,260 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Starbucks by 176.4% during the first quarter. Teacher Retirement System of Texas now owns 1,350,796 shares of the coffee company’s stock worth $100,418,000 after purchasing an additional 862,102 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Starbucks by 127.0% during the first quarter. SG Americas Securities LLC now owns 182,970 shares of the coffee company’s stock worth $13,602,000 after purchasing an additional 861,478 shares during the period. 72.32% of the stock is owned by institutional investors and hedge funds.
Shares of Starbucks stock traded down $0.16 on Tuesday, reaching $96.34. The company’s stock had a trading volume of 2,803,911 shares, compared to its average volume of 7,180,675. The company has a market capitalization of $113.36 billion, a P/E ratio of 39.81, a PEG ratio of 2.61 and a beta of 0.55. Starbucks Co. has a 52-week low of $52.45 and a 52-week high of $99.72. The stock has a 50-day moving average price of $93.87 and a 200-day moving average price of $80.68.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
In related news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.92, for a total transaction of $5,799,498.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Insiders sold 129,639 shares of company stock valued at $12,101,183 over the last 90 days. Company insiders own 3.98% of the company’s stock.
A number of research analysts have issued reports on the company. Cowen set a $93.00 price target on Starbucks and gave the company a “hold” rating in a report on Friday, July 26th. BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Wedbush boosted their price target on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Barclays boosted their price target on Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. downgraded Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has an average rating of “Buy” and a consensus target price of $89.53.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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