Vantage Investment Advisors LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 27.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,738 shares of the coffee company’s stock after buying an additional 20,391 shares during the quarter. Starbucks Corporation makes up about 1.6% of Vantage Investment Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Vantage Investment Advisors LLC’s holdings in Starbucks Corporation were worth $5,466,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake 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 purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC lifted its stake in Starbucks Corporation by 2.3% during the second 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 during the last quarter. Regent Investment Management LLC lifted its stake in Starbucks Corporation by 6.8% during the second 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 during the last quarter. Private Vista LLC lifted its stake in Starbucks Corporation by 3,334.9% during the second 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 during the last quarter. Finally, Welch Group LLC bought a new position in Starbucks Corporation during the second quarter worth $406,000. Hedge funds and other institutional investors own 72.01% of the company’s stock.
Starbucks Corporation (SBUX) opened at $56.93 on Wednesday. The stock has a market capitalization of $81,085.82, a PE ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 0.72. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. Starbucks Corporation’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current year.
The company 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 dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s payout ratio is presently 50.76%.
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Several brokerages recently issued reports on SBUX. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective on the stock in a research note on Tuesday. Morgan Stanley raised their price objective on Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Credit Suisse Group restated a “buy” rating on shares of Starbucks Corporation in a research note on Monday, November 6th. Deutsche Bank AG reduced their price objective on Starbucks Corporation to $62.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, UBS AG reduced their price objective on Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Starbucks Corporation presently has an average rating of “Buy” and an average target price of $63.31.
In related news, Director Javier G. Teruel sold 62,966 shares of Starbucks Corporation stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 150,708 shares of company stock worth $8,322,192. 3.40% of the stock is owned by corporate insiders.
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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