Norinchukin Bank The increased its position in Starbucks Co. (NASDAQ:SBUX) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 671,759 shares of the coffee company’s stock after acquiring an additional 5,766 shares during the period. Starbucks makes up 0.7% of Norinchukin Bank The’s portfolio, making the stock its 19th biggest position. Norinchukin Bank The’s holdings in Starbucks were worth $36,081,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its holdings in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares during the period. Valley National Advisers Inc. grew its position in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Starbucks in the 2nd quarter valued at about $128,000. Aviance Capital Management LLC bought a new position in Starbucks in the 2nd quarter valued at about $146,000. Finally, Mountain Capital Investment Advisors Inc bought a new position in Starbucks in the 2nd quarter valued at about $158,000. 71.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Co. (SBUX) traded up $0.81 on Friday, hitting $54.58. 18,304,362 shares of the company’s stock traded hands, compared to its average volume of 12,250,000. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The firm has a market capitalization of $77,660.00, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the company posted $0.52 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Wednesday, February 7th. Starbucks’s payout ratio is 39.60%.
A number of equities analysts recently issued reports on SBUX shares. Vetr upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 target price for the company in a research report on Tuesday, November 14th. Nomura decreased their target price on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Mizuho lowered shares of Starbucks from a “buy” rating to a “neutral” rating and increased their target price for the company from $68.00 to $75.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial started coverage on shares of Starbucks in a research report on Wednesday, December 27th. They issued a “buy” rating for the company. Finally, Wedbush reiterated a “buy” rating and issued a $70.00 target price on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one 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 a consensus target price of $64.63.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Insiders sold 597,668 shares of company stock valued at $34,216,388 over the last three months. 3.40% of the stock is owned by insiders.
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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