Saratoga Research & Investment Management raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,840 shares of the coffee company’s stock after buying an additional 31,035 shares during the quarter. Starbucks comprises 1.7% of Saratoga Research & Investment Management’s portfolio, making the stock its 26th biggest holding. Saratoga Research & Investment Management’s holdings in Starbucks were worth $23,767,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in shares of Starbucks by 812.4% in the 4th quarter. State of Alaska Department of Revenue now owns 152,806 shares of the coffee company’s stock worth $8,774,000 after purchasing an additional 136,058 shares during the period. Oakbrook Investments LLC boosted its holdings in shares of Starbucks by 26.1% in the 4th quarter. Oakbrook Investments LLC now owns 597,439 shares of the coffee company’s stock worth $34,311,000 after purchasing an additional 123,513 shares during the period. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of Starbucks by 3.2% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 35,245 shares of the coffee company’s stock worth $2,024,000 after purchasing an additional 1,095 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Starbucks in the 4th quarter worth approximately $1,259,000. Finally, Benin Management CORP boosted its holdings in shares of Starbucks by 3.8% in the 4th quarter. Benin Management CORP now owns 33,660 shares of the coffee company’s stock worth $1,933,000 after purchasing an additional 1,245 shares during the period. Institutional investors and hedge funds own 71.87% of the company’s stock.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $56.48 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $79,390.00, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.56 and a beta of 0.70. Starbucks Co. has a 1 year low of $52.58 and a 1 year high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. Starbucks’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. equities research analysts predict that Starbucks Co. will post 2.49 earnings per share 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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is presently 40.27%.
A number of brokerages have recently commented on SBUX. Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 target price for the company. in a report on Wednesday, February 14th. Mizuho cut Starbucks from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, January 30th. BidaskClub cut Starbucks from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Finally, Sanford C. Bernstein cut Starbucks from an “outperform” rating to a “market perform” rating in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $64.63.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,826 shares of company stock valued at $14,213,139. 3.48% of the stock is currently owned by corporate 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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