Geneva Advisors LLC increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,750,639 shares of the coffee company’s stock after buying an additional 63,041 shares during the quarter. Starbucks Corporation comprises about 2.8% of Geneva Advisors LLC’s portfolio, making the stock its 4th biggest position. Geneva Advisors LLC owned approximately 0.19% of Starbucks Corporation worth $160,390,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Jacobi Capital Management LLC grew its holdings in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its holdings in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new position in shares of Starbucks Corporation in the first quarter valued at approximately $122,000. 70.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down $0.32 during mid-day trading on Friday, reaching $57.04. 7,930,300 shares of the company’s stock were exchanged, compared to its average volume of 9,421,873. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The company has a market cap of $82,116.58, a P/E ratio of 27.71, a P/E/G ratio of 1.57 and a beta of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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SBUX has been the subject of a number of analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 14th. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Cowen and Company reiterated an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. Wedbush reiterated a “neutral” rating and issued a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Tuesday, July 25th. Twelve equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $63.31.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 150,708 shares of company stock worth $8,322,192. Insiders own 3.40% of the company’s stock.
Starbucks Corporation 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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