Ashfield Capital Partners LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,183 shares of the coffee company’s stock after selling 2,355 shares during the quarter. Ashfield Capital Partners LLC’s holdings in Starbucks were worth $3,137,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC lifted its position in shares of Starbucks by 669.7% during the second 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 during the last quarter. Polaris Greystone Financial Group LLC bought a new stake in shares of Starbucks during the third quarter worth $107,000. Fort L.P. bought a new stake in shares of Starbucks during the second quarter worth $112,000. Point72 Hong Kong Ltd bought a new stake in shares of Starbucks during the second quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC lifted its position in shares of Starbucks by 155.6% during the second 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 during the last quarter. Institutional investors own 71.77% of the company’s stock.
In other Starbucks news, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $53.98, for a total value of $809,700.00. Following the transaction, the director now owns 29,000 shares in the company, valued at $1,565,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction dated 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 completion of the transaction, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock worth $15,052,087 in the last quarter. 3.48% of the stock is owned by insiders.
Shares of Starbucks stock opened at $66.01 on Wednesday. The firm has a market cap of $86.77 billion, a PE ratio of 27.28, a PEG ratio of 1.74 and a beta of 0.48. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. Starbucks Co. has a 12 month low of $47.37 and a 12 month high of $66.08.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 2.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.18%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
Several analysts have recently weighed in on the company. ValuEngine upgraded Starbucks from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 14th. BMO Capital Markets set a $51.00 target price on Starbucks and gave the stock a “hold” rating in a research report on Monday, July 23rd. Bank of America lifted their target price on Starbucks from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Telsey Advisory Group decreased their target price on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, July 17th. Finally, Royal Bank of Canada lifted their target price on Starbucks to $68.00 and gave the stock a “positive” rating in a research report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $63.48.
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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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