Sciencast Management LP bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,979 shares of the coffee company’s stock, valued at approximately $990,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Starbucks by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. State Street Corp increased its position in Starbucks by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Capital World Investors increased its position in Starbucks by 2.0% during the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after buying an additional 895,432 shares in the last quarter. Northern Trust Corp increased its position in Starbucks by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its position in Starbucks by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. 71.07% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of several recent research reports. Vetr raised Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target for the company in a research report on Tuesday, November 14th. Nomura dropped their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Mizuho reissued a “buy” rating and set a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $63.26.
In related news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares in the company, valued at $3,214,662.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders sold 437,808 shares of company stock worth $24,993,721 in the last quarter. 3.40% of the stock is owned by insiders.
Starbucks Corporation (SBUX) opened at $59.14 on Friday. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The firm has a market capitalization of $84,343.59, a price-to-earnings ratio of 28.64, a P/E/G ratio of 1.62 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.
Starbucks (NASDAQ:SBUX) last issued its 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 had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
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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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