Gradient Investments LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,041 shares of the coffee company’s stock, valued at approximately $117,000.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares during the last quarter. Capital World Investors increased its holdings in shares of Starbucks by 2.0% during the 2nd 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 during the last quarter. Northern Trust Corp increased its holdings in shares of Starbucks by 5.2% during the 2nd 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 during the last quarter. Capital International Investors increased its holdings in shares of Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after buying an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after buying an additional 1,809,166 shares during the last quarter. 73.63% of the stock is currently owned by institutional investors.
Shares of Starbucks stock opened at $59.00 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. The firm has a market capitalization of $82,930.40, a PE ratio of 19.47, a PEG ratio of 1.63 and a beta of 0.66. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. sell-side analysts predict that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. Starbucks’s dividend payout ratio is presently 39.60%.
In other news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction dated 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 in the company, valued at $18,920,889.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were 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 of the company’s stock, valued at $2,126,280. The disclosure for this sale can be found here. Insiders have sold 247,664 shares of company stock valued at $14,243,602 over the last 90 days. Insiders own 3.40% of the company’s stock.
A number of analysts have recently commented on SBUX shares. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $63.14 price objective for the company. in a report on Monday, November 20th. Goldman Sachs downgraded Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the stock from $73.00 to $68.00 in a report on Friday, January 26th. Wedbush restated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Piper Jaffray Companies restated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a report on Friday, January 5th. Finally, Tigress Financial restated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $64.64.
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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