Thornburg Investment Management Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 715,027 shares of the coffee company’s stock after selling 7,139 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.05% of Starbucks worth $40,642,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SBUX. BlackRock Inc. increased its stake in Starbucks by 0.6% in the 2nd quarter. BlackRock Inc. now owns 84,654,465 shares of the coffee company’s stock valued at $4,135,368,000 after buying an additional 477,124 shares during the period. Morgan Stanley boosted its position in shares of Starbucks by 2.0% during the 2nd quarter. Morgan Stanley now owns 47,116,946 shares of the coffee company’s stock worth $2,301,661,000 after purchasing an additional 928,175 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of Starbucks by 5.2% during the 2nd quarter. Magellan Asset Management Ltd now owns 32,392,116 shares of the coffee company’s stock worth $1,582,355,000 after purchasing an additional 1,613,187 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of Starbucks by 0.5% during the 2nd quarter. Polen Capital Management LLC now owns 12,286,385 shares of the coffee company’s stock worth $600,190,000 after purchasing an additional 56,588 shares in the last quarter. Finally, Parnassus Investments CA boosted its position in shares of Starbucks by 26.8% during the 2nd quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock worth $588,767,000 after purchasing an additional 2,543,697 shares in the last quarter. 71.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Javier G. Teruel sold 166,666 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rosalind G. Brewer bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average cost of $54.04 per share, with a total value of $270,200.00. Following the purchase, the insider now directly owns 7,302 shares in the company, valued at approximately $394,600.08. The disclosure for this purchase can be found here. Insiders sold a total of 280,832 shares of company stock worth $15,052,087 over the last quarter. Insiders own 3.40% of the company’s stock.

SBUX has been the topic of several research analyst reports. Wells Fargo & Co boosted their target price on shares of Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. KeyCorp restated a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, ValuEngine upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Starbucks currently has an average rating of “Hold” and an average target price of $63.48.

Starbucks stock opened at $68.60 on Friday. Starbucks Co. has a 52 week low of $47.37 and a 52 week high of $68.98. The company has a debt-to-equity ratio of 7.73, a quick ratio of 1.95 and a current ratio of 2.20. The stock has a market capitalization of $91.95 billion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The business had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts forecast that Starbucks Co. will post 2.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a $0.36 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.10%. Starbucks’s dividend payout ratio is presently 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 coffee and tea products, 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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