Janus Capital Management LLC Cuts Position in Starbucks Co. (SBUX)

Janus Capital Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,626,026 shares of the coffee company’s stock after selling 3,679,250 shares during the period. Starbucks makes up about 0.8% of Janus Capital Management LLC’s portfolio, making the stock its 15th largest position. Janus Capital Management LLC owned 1.14% of Starbucks worth $923,124,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Fusion Family Wealth LLC bought a new position in Starbucks during the fourth quarter worth $123,000. Buffington Mohr McNeal boosted its position in Starbucks by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock worth $115,000 after buying an additional 17 shares during the last quarter. Cascade Investment Advisors Inc. bought a new position in Starbucks during the fourth quarter worth $131,000. Stanford Investment Group Inc. boosted its position in Starbucks by 0.3% in the fourth quarter. Stanford Investment Group Inc. now owns 2,576 shares of the coffee company’s stock worth $143,000 after buying an additional 8 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Starbucks by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock worth $143,000 after buying an additional 1,715 shares during the last quarter. 68.49% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Shares of Starbucks Co. (NASDAQ:SBUX) traded up 0.88% on Friday, reaching $60.61. 8,799,985 shares of the company were exchanged. The company has a market capitalization of $88.33 billion, a price-to-earnings ratio of 31.08 and a beta of 0.79. The company’s 50-day moving average is $57.03 and its 200-day moving average is $56.25. Starbucks Co. has a 52 week low of $50.84 and a 52 week high of $60.69.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The firm earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, equities analysts expect that Starbucks Co. will post $2.13 EPS for the current fiscal year.

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A number of research analysts have weighed in on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $59.00 target price on shares of Starbucks in a research note on Tuesday, April 11th. Robert W. Baird reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, February 16th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $60.00 to $67.00 in a research note on Wednesday. They noted that the move was a valuation call. Sanford C. Bernstein set a $65.00 price target on shares of Starbucks and gave the company a “buy” rating in a research note on Friday, January 27th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Starbucks has an average rating of “Buy” and an average target price of $64.30.

In related news, Director Joshua Cooper Ramo sold 5,868 shares of the business’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is owned by insiders.

Starbucks Company Profile

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.

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