Jacobs & Co. CA Reduces Position in Starbucks Co. (SBUX)

Jacobs & Co. CA cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 159,631 shares of the coffee company’s stock after selling 4,515 shares during the quarter. Starbucks accounts for 2.0% of Jacobs & Co. CA’s portfolio, making the stock its 9th biggest position. Jacobs & Co. CA’s holdings in Starbucks were worth $11,867,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SBUX. Oregon Public Employees Retirement Fund raised its position in Starbucks by 5,590.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,679,558 shares of the coffee company’s stock valued at $368,000 after purchasing an additional 23,263,399 shares during the last quarter. Norges Bank bought a new position in Starbucks during the 4th quarter valued at approximately $807,368,000. Two Sigma Advisers LP bought a new position in Starbucks during the 4th quarter valued at approximately $352,796,000. Swedbank bought a new position in Starbucks during the 4th quarter valued at approximately $100,070,000. Finally, Assenagon Asset Management S.A. raised its position in Starbucks by 432.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock valued at $67,038,000 after purchasing an additional 1,173,260 shares during the last quarter. Institutional investors own 74.73% of the company’s stock.

In related news, insider John Culver sold 63,937 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.98% of the stock is owned by company insiders.

Shares of NASDAQ:SBUX opened at $77.53 on Wednesday. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $79.65. The company has a market capitalization of $93.89 billion, a PE ratio of 32.04, a PEG ratio of 2.21 and a beta of 0.51. The company has a debt-to-equity ratio of 7.73, a current ratio of 0.94 and a quick ratio of 0.67.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, May 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Wednesday, May 8th. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

SBUX has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target (up previously from $70.00) on shares of Starbucks in a research report on Friday, January 25th. CIBC upped their price target on Starbucks from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, January 25th. Bank of America set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research report on Friday, January 25th. Zacks Investment Research raised Starbucks from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research report on Monday, January 28th. Finally, BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $73.88.

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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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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