Toronto Dominion Bank Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Toronto Dominion Bank lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 23.2% during the 2nd quarter, Holdings Channel reports. The fund owned 762,372 shares of the coffee company’s stock after selling 229,837 shares during the period. Toronto Dominion Bank’s holdings in Starbucks were worth $63,893,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of Starbucks by 19.8% in the 1st quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock valued at $774,936,000 after buying an additional 1,720,231 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Starbucks by 8.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,810,825 shares of the coffee company’s stock valued at $487,122,000 after buying an additional 462,682 shares during the last quarter. Prudential Financial Inc. increased its holdings in Starbucks by 166.3% in the second quarter. Prudential Financial Inc. now owns 3,901,446 shares of the coffee company’s stock valued at $327,058,000 after buying an additional 2,436,385 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Starbucks by 162.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock valued at $278,964,000 after buying an additional 2,058,082 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Starbucks by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 3,141,872 shares of the coffee company’s stock worth $233,567,000 after buying an additional 72,485 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Several research analysts have recently commented on the company. Evercore ISI started coverage on Starbucks in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 target price for the company. Oppenheimer raised their price objective on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. UBS Group lifted their price objective on shares of Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. JPMorgan Chase & Co. downgraded shares of Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Finally, Cowen set a $93.00 target price on shares of Starbucks and gave the company a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has a consensus rating of “Hold” and an average price target of $89.53.



NASDAQ SBUX traded down $0.01 on Wednesday, hitting $90.34. The stock had a trading volume of 375,843 shares, compared to its average volume of 6,038,327. The company’s 50-day moving average is $95.72 and its two-hundred day moving average is $82.60. Starbucks Co. has a one year low of $54.10 and a one year high of $99.72. The stock has a market cap of $112.71 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 2.56 and a beta of 0.56.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. On average, equities analysts predict that Starbucks Co. will post 2.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.59%. The ex-dividend date was Wednesday, August 7th. Starbucks’s dividend payout ratio is currently 59.50%.

In other news, CAO Jill Walker sold 6,492 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $84.64, for a total transaction of $844,114.72. Following the transaction, the director now owns 28,390 shares in the company, valued at approximately $2,402,929.60. The disclosure for this sale can be found here. Insiders have sold a total of 142,767 shares of company stock worth $13,690,565 in the last ninety days. 3.98% of the stock is owned by company insiders.

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.

Recommended Story: Can systematic risk be avoided?

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).

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.