Monetary Management Group Inc. Has $915,000 Holdings in Starbucks Co. (SBUX)

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Monetary Management Group Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 72.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,725 shares of the coffee company’s stock after selling 49,850 shares during the quarter. Monetary Management Group Inc.’s holdings in Starbucks were worth $915,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Starbucks by 0.6% in the second quarter. BlackRock Inc. now owns 84,654,465 shares of the coffee company’s stock valued at $4,135,368,000 after purchasing an additional 477,124 shares during the period. Polen Capital Management LLC boosted its holdings in shares of Starbucks by 0.5% in the second quarter. Polen Capital Management LLC now owns 12,286,385 shares of the coffee company’s stock valued at $600,190,000 after acquiring an additional 56,588 shares in the last quarter. Parnassus Investments CA boosted its holdings in shares of Starbucks by 26.8% in the second quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock valued at $588,767,000 after acquiring an additional 2,543,697 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Starbucks by 0.7% in the second quarter. American Century Companies Inc. now owns 5,450,178 shares of the coffee company’s stock valued at $266,241,000 after acquiring an additional 38,223 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Starbucks by 6.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,280,149 shares of the coffee company’s stock valued at $257,935,000 after acquiring an additional 308,487 shares in the last quarter. Institutional investors own 72.16% of the company’s stock.

Shares of NASDAQ:SBUX opened at $53.79 on Thursday. The company has a market cap of $72.11 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.64. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $61.94. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 1.54.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Thursday, August 9th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, August 8th. This is an increase from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s dividend payout ratio is 69.90%.

Several research analysts have recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Starbucks from $58.00 to $56.00 and set a “market perform” rating for the company in a report on Wednesday, June 20th. Jefferies Financial Group decreased their price objective on shares of Starbucks from $69.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, June 26th. They noted that the move was a valuation call. Telsey Advisory Group decreased their price objective on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. Sanford C. Bernstein decreased their price objective on shares of Starbucks from $64.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, June 26th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Starbucks has an average rating of “Hold” and a consensus target price of $60.21.

In related news, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total value of $781,950.00. Following the completion of the sale, the director now owns 29,000 shares in the company, valued at approximately $1,511,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,666 shares of company stock valued at $10,374,948. 3.40% of the stock is owned by insiders.

Starbucks Company 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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