Vision Capital Management Inc. Trims Position in Starbucks Co. (SBUX)

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Vision Capital Management Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 88,334 shares of the coffee company’s stock after selling 12,690 shares during the quarter. Starbucks accounts for about 1.8% of Vision Capital Management Inc.’s portfolio, making the stock its 14th largest holding. Vision Capital Management Inc.’s holdings in Starbucks were worth $6,567,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Lake Point Wealth Management acquired a new position in Starbucks in the 4th quarter worth approximately $25,000. Cowen Prime Services LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at $26,000. Veritas Investment Management LLP acquired a new stake in shares of Starbucks during the 4th quarter valued at $28,000. Paragon Capital Management LLC acquired a new stake in shares of Starbucks during the 1st quarter valued at $29,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 71.69% of the company’s stock.

A number of brokerages have issued reports on SBUX. Bank of America set a $85.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Jaffray Companies lifted their target price on shares of Starbucks from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Barclays lifted their target price on shares of Starbucks from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Co lowered shares of Starbucks from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $83.00 to $80.00 in a research note on Friday, April 26th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and a consensus target price of $73.88.

In other news, insider John Culver sold 63,937 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $78.04, for a total transaction of $4,989,643.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.98% of the stock is currently owned by company insiders.

Starbucks stock opened at $76.17 on Friday. The firm has a market cap of $91.69 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 2.13 and a beta of 0.51. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 7.73. Starbucks Co. has a 1-year low of $47.37 and a 1-year high of $79.65.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, April 25th. The coffee company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. Starbucks had a net margin of 11.87% and a negative return on equity of 494.61%. Starbucks’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, research analysts expect that Starbucks Co. will post 2.78 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Thursday, May 9th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.89%. Starbucks’s dividend payout ratio is currently 59.50%.

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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 beverages, iced tea, 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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