Patriot Wealth Management Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 87,384 shares of the coffee company’s stock after buying an additional 1,499 shares during the quarter. Patriot Wealth Management Inc.’s holdings in Starbucks were worth $5,018,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ken Stern & Associates Inc. raised its position in shares of Starbucks by 0.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after acquiring an additional 23 shares in the last quarter. Spectrum Management Group Inc. raised its position in shares of Starbucks by 0.3% during the 2nd 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 in the last quarter. Risk Paradigm Group LLC raised its position in shares of Starbucks by 0.7% during the 2nd quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock worth $436,000 after acquiring an additional 50 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after acquiring an additional 57 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Starbucks by 0.8% during the 2nd quarter. GHP Investment Advisors Inc. now owns 7,657 shares of the coffee company’s stock worth $446,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 72.74% of the company’s stock.
Starbucks Co. (SBUX) traded up $0.44 during trading on Thursday, hitting $57.47. The company had a trading volume of 7,602,791 shares, compared to its average volume of 13,680,000. 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 Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The stock has a market capitalization of $80,780.00, a P/E ratio of 18.36, a PEG ratio of 1.58 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last posted its quarterly 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. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. research analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were paid a $0.30 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. Starbucks’s dividend payout ratio (DPR) is presently 38.34%.
Several research analysts have commented on the company. Zacks Investment Research lowered Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised Starbucks from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target on the stock. in a research report on Monday, November 13th. BMO Capital Markets lifted their price target on Starbucks to $58.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $70.00 price target on shares of Starbucks in a research report on Friday, January 26th. Twelve analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.63.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the business’s 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 sale, the insider now directly owns 331,829 shares in the company, valued at $18,920,889.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the sale, the director now owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. 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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