Captrust Financial Advisors Acquires Shares of 7,022 Starbucks Corporation (SBUX)

Captrust Financial Advisors acquired a new position in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,022 shares of the coffee company’s stock, valued at approximately $409,000.

A number of other institutional investors have also modified their holdings of the stock. Appropriate Balance Financial Services Inc. grew its position in Starbucks Corporation by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after acquiring an additional 13 shares during the period. Union Bankshares Corp grew its position in Starbucks Corporation by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after acquiring an additional 14 shares during the period. Vaughan David Investments Inc. IL grew its position in Starbucks Corporation by 0.6% in the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after acquiring an additional 26 shares during the period. CWM LLC grew its position in Starbucks Corporation by 0.6% in the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock worth $308,000 after acquiring an additional 30 shares during the period. Finally, Spectrum Management Group Inc. grew its position in Starbucks Corporation by 0.3% in the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after acquiring an additional 30 shares during the period. Institutional investors own 72.01% of the company’s stock.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Friday. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $81,500.98, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm earned $0.56 earnings per share. Starbucks Corporation’s quarterly revenue was down .2% on a year-over-year basis. equities research analysts predict that Starbucks Corporation will post 2.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is 60.91%.

In other news, SVP Paul Mutty sold 3,000 shares of Starbucks Corporation stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of Starbucks Corporation stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the sale, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. Insiders have sold 443,884 shares of company stock worth $25,041,780 in the last quarter. Insiders own 3.40% of the company’s stock.

SBUX has been the subject of several analyst reports. Jefferies Group LLC reiterated an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research report on Sunday, July 30th. Bank of America Corporation reiterated a “buy” rating and issued a $65.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Instinet reiterated a “buy” rating and issued a $67.00 price objective (down from $70.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, UBS AG set a $67.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Twelve research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $63.31.

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Starbucks Corporation 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.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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