Stephens Inc. AR boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,246 shares of the coffee company’s stock after purchasing an additional 14,380 shares during the period. Stephens Inc. AR’s holdings in Starbucks Corporation were worth $7,070,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SBUX. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Starbucks Corporation by 12.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after acquiring an additional 10,250 shares during the period. Geneva Advisors LLC raised its holdings in shares of Starbucks Corporation by 2.3% during the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after acquiring an additional 63,041 shares during the period. Regent Investment Management LLC raised its holdings in shares of Starbucks Corporation by 6.8% during the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after acquiring an additional 300 shares during the period. Private Vista LLC raised its holdings in shares of Starbucks Corporation by 3,334.9% during the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after acquiring an additional 213,303 shares during the period. Finally, Welch Group LLC acquired a new stake in shares of Starbucks Corporation during the second quarter valued at approximately $406,000. 72.01% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on SBUX. Credit Suisse Group cut their price target on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Wedbush restated a “neutral” rating and set a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $67.00 price target on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $63.31.
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In other news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,884 shares of company stock valued at $25,041,780. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (SBUX) opened at $57.24 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The firm has a market cap of $81,171.72, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue was down .2% on a year-over-year basis. equities research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a $0.30 dividend. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks Corporation’s dividend payout ratio is currently 60.91%.
Starbucks Corporation 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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