IBM Retirement Fund Decreases Stake in Starbucks Co. (SBUX)

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IBM Retirement Fund lessened its position in Starbucks Co. (NASDAQ:SBUX) by 13.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 27,855 shares of the coffee company’s stock after selling 4,402 shares during the quarter. IBM Retirement Fund’s holdings in Starbucks were worth $1,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. purchased a new position in shares of Starbucks in the second quarter valued at approximately $290,000. Van ECK Associates Corp lifted its position in shares of Starbucks by 10.3% in the second quarter. Van ECK Associates Corp now owns 693,878 shares of the coffee company’s stock valued at $33,896,000 after acquiring an additional 64,523 shares in the last quarter. Aureus Asset Management LLC lifted its position in shares of Starbucks by 24.9% in the second quarter. Aureus Asset Management LLC now owns 127,534 shares of the coffee company’s stock valued at $6,230,000 after acquiring an additional 25,390 shares in the last quarter. Martin Capital Partners LLC lifted its position in shares of Starbucks by 13.3% in the second quarter. Martin Capital Partners LLC now owns 61,708 shares of the coffee company’s stock valued at $3,014,000 after acquiring an additional 7,233 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Starbucks by 10.8% in the second quarter. Baird Financial Group Inc. now owns 1,707,518 shares of the coffee company’s stock valued at $83,412,000 after acquiring an additional 165,746 shares in the last quarter. Institutional investors and hedge funds own 72.16% of the company’s stock.

In other news, insider Rosalind G. Brewer acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was acquired at an average cost of $54.04 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The disclosure for this sale can be found here. Insiders sold 196,666 shares of company stock worth $10,374,948 in the last 90 days. Company insiders own 3.48% of the company’s stock.

NASDAQ:SBUX opened at $53.53 on Wednesday. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $61.94. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $72.11 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.59 and a beta of 0.64.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. research analysts predict that Starbucks Co. will post 2.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Thursday, August 9th were given a $0.36 dividend. The ex-dividend date was Wednesday, August 8th. This represents a $1.44 dividend on an annualized basis and a yield of 2.69%. This is an increase from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s payout ratio is currently 69.90%.

A number of equities analysts recently commented on the company. BMO Capital Markets set a $51.00 price objective on Starbucks and gave the stock a “hold” rating in a research report on Monday, July 23rd. Barclays reduced their price objective on Starbucks from $60.00 to $57.00 and set a “$51.15” rating on the stock in a research report on Wednesday, July 18th. Telsey Advisory Group reduced their price objective on Starbucks from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 17th. Stifel Nicolaus reduced their price objective on Starbucks from $58.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday, June 20th. Finally, BidaskClub downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.21.

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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