First Heartland Consultants Inc. grew its position in Starbucks Co. (NASDAQ:SBUX) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,981 shares of the coffee company’s stock after acquiring an additional 1,447 shares during the period. First Heartland Consultants Inc.’s holdings in Starbucks were worth $1,019,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Capital World Investors grew its stake in Starbucks by 2.0% during the second 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 period. Northern Trust Corp grew its stake in Starbucks by 5.2% during the second 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 period. Capital International Investors grew its stake in Starbucks by 28.3% during the third 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 period. Finally, Ameriprise Financial Inc. grew its stake in Starbucks by 12.8% during the second 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 period. 71.92% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on the stock. Credit Suisse Group decreased their target price on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $73.00 to $68.00 in a report on Friday, January 26th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Starbucks in a report on Friday, January 26th. OTR Global raised shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets dropped their target price on shares of Starbucks from $56.00 to $52.00 and set a “market perform” rating on the stock in a report on Friday, November 3rd. One research 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 company’s stock. Starbucks has an average rating of “Buy” and an average target price of $64.63.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.14%. Starbucks’s dividend payout ratio is currently 40.27%.
In related news, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 329,492 shares of company stock valued at $18,859,801 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
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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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