Qube Research & Technologies Ltd Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Qube Research & Technologies Ltd lowered its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 48.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,878 shares of the coffee company’s stock after selling 140,356 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Starbucks were worth $13,452,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Marble Harbor Investment Counsel LLC increased its position in shares of Starbucks by 2.4% in the first quarter. Marble Harbor Investment Counsel LLC now owns 10,575 shares of the coffee company’s stock valued at $962,000 after buying an additional 250 shares in the last quarter. Kavar Capital Partners Group LLC increased its position in Starbucks by 1.5% during the 1st quarter. Kavar Capital Partners Group LLC now owns 61,775 shares of the coffee company’s stock worth $5,620,000 after purchasing an additional 914 shares in the last quarter. Curi Wealth Management LLC increased its position in Starbucks by 20.1% during the 1st quarter. Curi Wealth Management LLC now owns 2,828 shares of the coffee company’s stock worth $257,000 after purchasing an additional 474 shares in the last quarter. Great Lakes Advisors LLC increased its position in Starbucks by 12.3% during the 1st quarter. Great Lakes Advisors LLC now owns 55,562 shares of the coffee company’s stock worth $5,055,000 after purchasing an additional 6,105 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its position in Starbucks by 9.4% during the 1st quarter. Jacobi Capital Management LLC now owns 12,487 shares of the coffee company’s stock worth $1,136,000 after purchasing an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 69.21% of the company’s stock.

Starbucks Stock Down 1.3 %

SBUX stock opened at $85.73 on Friday. Starbucks Co. has a 52-week low of $68.39 and a 52-week high of $120.76. The stock’s 50 day moving average is $78.88 and its two-hundred day moving average is $83.14. The company has a market capitalization of $98.32 billion, a PE ratio of 24.15, a P/E/G ratio of 2.73 and a beta of 0.95.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.85 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a yield of 2.29%. Starbucks’s payout ratio is currently 55.21%.

Insider Buying and Selling

In related news, CEO Howard D. Schultz acquired 72,500 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $68.85 per share, for a total transaction of $4,991,625.00. Following the purchase, the chief executive officer now directly owns 19,606,960 shares in the company, valued at $1,349,939,196. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, CEO Howard D. Schultz purchased 137,500 shares of Starbucks stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $72.67 per share, for a total transaction of $9,992,125.00. Following the transaction, the chief executive officer now owns 19,534,460 shares of the company’s stock, valued at approximately $1,419,569,208.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard D. Schultz purchased 72,500 shares of Starbucks stock in a transaction on Thursday, May 12th. The shares were acquired at an average price of $68.85 per share, with a total value of $4,991,625.00. Following the transaction, the chief executive officer now directly owns 19,606,960 shares in the company, valued at approximately $1,349,939,196. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on SBUX shares. Robert W. Baird reiterated a “neutral” rating and set a $83.00 price objective on shares of Starbucks in a research report on Thursday. Cowen dropped their price objective on Starbucks from $115.00 to $94.00 in a research report on Wednesday, May 4th. MKM Partners dropped their price objective on Starbucks from $105.00 to $98.00 in a research report on Wednesday, May 4th. Credit Suisse Group dropped their price objective on Starbucks from $122.00 to $103.00 in a research report on Wednesday, May 4th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Wednesday, May 4th. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $102.92.

About Starbucks

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Featured Stories

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXGet Rating).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.