Financial Counselors Inc. increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,903 shares of the coffee company’s stock after acquiring an additional 2,142 shares during the period. Financial Counselors Inc.’s holdings in Starbucks Corporation were worth $9,790,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Starbucks Corporation by 12.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after acquiring an additional 10,250 shares during the period. Geneva Advisors LLC increased its stake in Starbucks Corporation by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after purchasing an additional 63,041 shares in the last quarter. Regent Investment Management LLC increased its stake in Starbucks Corporation by 6.8% in the 2nd quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock worth $273,000 after purchasing an additional 300 shares in the last quarter. Private Vista LLC increased its stake in Starbucks Corporation by 3,334.9% in the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock worth $160,000 after purchasing an additional 213,303 shares in the last quarter. Finally, Welch Group LLC purchased a new position in Starbucks Corporation in the 2nd quarter worth about $406,000. 72.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Starbucks Corporation news, Director Javier G. Teruel sold 62,966 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,708 shares of company stock valued at $8,322,192. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Wednesday. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $81,085.82, a P/E ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.56 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s payout ratio is 50.76%.
A number of equities analysts recently weighed in on the company. Credit Suisse Group dropped their price target on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Wedbush reissued a “neutral” rating and issued a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG reissued a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Monday, October 9th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Twelve analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation currently has an average rating of “Buy” and an average target price of $63.31.
Starbucks Corporation 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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