Copeland Capital Management LLC Sells 29,188 Shares of Starbucks Co. (SBUX)
Copeland Capital Management LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,675 shares of the coffee company’s stock after selling 29,188 shares during the period. Copeland Capital Management LLC’s holdings in Starbucks were worth $5,730,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. Capital World Investors grew its position in Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after purchasing an additional 895,432 shares in the last quarter. Northern Trust Corp grew its position in Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after purchasing an additional 1,060,298 shares in the last quarter. Magellan Asset Management Ltd grew its position in Starbucks by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after purchasing an additional 1,809,166 shares in the last quarter. 70.67% of the stock is owned by institutional investors.
A number of brokerages have issued reports on SBUX. Zacks Investment Research downgraded shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Morgan Stanley boosted their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 target price on the stock. in a research note on Monday, November 13th. UBS Group set a $64.00 target price on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 15th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and an average target price of $63.26.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock worth $28,559,521 in the last three months. Insiders own 3.40% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $57.14 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The firm has a market cap of $81,526.45, a P/E ratio of 29.01, a P/E/G ratio of 1.57 and a beta of 0.75. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. analysts forecast that Starbucks Co. will post 2.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were issued a $0.30 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks’s dividend payout ratio is presently 60.91%.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://theolympiareport.com/2017/12/27/copeland-capital-management-llc-sells-29188-shares-of-starbucks-co-sbux-2.html.
Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.
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: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.