National Pension Service decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,460,633 shares of the coffee company’s stock after selling 199,595 shares during the quarter. National Pension Service owned 0.12% of Starbucks worth $128,419,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Colony Group LLC lifted its position in shares of Starbucks by 3.9% during the third quarter. Colony Group LLC now owns 33,048 shares of the coffee company’s stock worth $2,922,000 after purchasing an additional 1,244 shares during the last quarter. UMA Financial Services Inc. acquired a new stake in Starbucks during the 3rd quarter worth approximately $231,000. Voya Financial Advisors Inc. boosted its position in Starbucks by 2.8% during the 3rd quarter. Voya Financial Advisors Inc. now owns 42,188 shares of the coffee company’s stock worth $3,728,000 after buying an additional 1,139 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its position in Starbucks by 0.5% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 34,880 shares of the coffee company’s stock worth $3,084,000 after buying an additional 185 shares during the period. Finally, MV Capital Management Inc. boosted its position in Starbucks by 3.6% during the 3rd quarter. MV Capital Management Inc. now owns 8,640 shares of the coffee company’s stock worth $764,000 after buying an additional 302 shares during the period. 69.16% of the stock is owned by institutional investors.
In other news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $88.12, for a total value of $374,686.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total value of $140,280.00. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. Starbucks had a negative return on equity of 62.51% and a net margin of 13.81%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 2.69 EPS for the current year.
Several research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Starbucks from $93.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday. MKM Partners cut shares of Starbucks from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $92.00 to $52.00 in a research report on Monday. BMO Capital Markets restated a “market perform” rating and issued a $85.00 price objective on shares of Starbucks in a research report on Wednesday, January 29th. Jefferies Financial Group decreased their price objective on shares of Starbucks from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Finally, Oppenheimer decreased their price objective on shares of Starbucks from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $85.72.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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