Starbucks Co. (SBUX) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,676 shares of the coffee company’s stock after selling 4,486 shares during the quarter. Verition Fund Management LLC’s holdings in Starbucks were worth $1,073,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Middleton & Co Inc MA lifted its holdings in Starbucks by 11.8% during the third quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock worth $5,310,000 after buying an additional 10,458 shares during the period. Honeywell International Inc. lifted its holdings in Starbucks by 11.9% during the third quarter. Honeywell International Inc. now owns 709,062 shares of the coffee company’s stock worth $38,084,000 after buying an additional 75,400 shares during the period. Handelsbanken Fonder AB lifted its holdings in Starbucks by 7.8% during the third quarter. Handelsbanken Fonder AB now owns 275,000 shares of the coffee company’s stock worth $14,770,000 after buying an additional 20,000 shares during the period. Lee Danner & Bass Inc. lifted its holdings in Starbucks by 5.1% during the third quarter. Lee Danner & Bass Inc. now owns 61,803 shares of the coffee company’s stock worth $3,319,000 after buying an additional 3,007 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Starbucks by 2.1% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,813,457 shares of the coffee company’s stock worth $97,401,000 after buying an additional 37,733 shares during the period. 73.52% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on SBUX shares. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Oppenheimer restated a “buy” rating and set a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. Wedbush restated a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price (up previously from $66.00) on shares of Starbucks in a report on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $64.17.



Shares of SBUX opened at $59.24 on Friday. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a market cap of $83,520.75, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.65 and a beta of 0.64.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.

In related news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the transaction, the director now owns 26,500 shares in the company, valued at approximately $1,592,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders sold a total of 247,664 shares of company stock valued at $14,243,602 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

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Starbucks 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 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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