Investment Centers of America Inc. lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 15.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,241 shares of the coffee company’s stock after selling 8,656 shares during the quarter. Investment Centers of America Inc.’s holdings in Starbucks Corporation were worth $2,811,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Starbucks Corporation by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC increased its position in shares of Starbucks Corporation by 2.3% during the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after purchasing an additional 63,041 shares during the last quarter. Private Vista LLC increased its position in shares of Starbucks Corporation by 3,334.9% during the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after purchasing an additional 213,303 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Starbucks Corporation during the 2nd quarter valued at about $406,000. Finally, TrimTabs Asset Management LLC increased its position in shares of Starbucks Corporation by 104.9% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock valued at $250,000 after purchasing an additional 2,199 shares during the last quarter. 71.49% of the stock is owned by hedge funds and other institutional investors.
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In other Starbucks Corporation news, SVP Paul Mutty sold 3,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,884 shares of company stock worth $25,041,780. Insiders own 3.40% of the company’s stock.
SBUX has been the subject of several research reports. UBS AG reduced their price target on shares of Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Cowen and Company reaffirmed a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Mizuho set a $75.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley upped their price target on shares of Starbucks Corporation from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Finally, Vetr lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.91 price target for the company. in a research report on Thursday, November 2nd. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Starbucks Corporation has an average rating of “Buy” and a consensus target price of $63.31.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at $56.81 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. The firm has a market capitalization of $81,880.00, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta 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 for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. sell-side analysts expect that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 60.91%.
About Starbucks Corporation
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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