Guardian Capital LP reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 146,500 shares of the coffee company’s stock after selling 5,218 shares during the period. Guardian Capital LP’s holdings in Starbucks were worth $8,542,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC raised its stake in shares of Starbucks by 22,837.0% in the second quarter. Sun Life Financial INC now owns 10,551 shares of the coffee company’s stock worth $615,000 after acquiring an additional 10,505 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in shares of Starbucks in the second quarter worth about $5,480,000. Clinton Group Inc. raised its stake in shares of Starbucks by 141.1% in the second quarter. Clinton Group Inc. now owns 60,993 shares of the coffee company’s stock worth $3,557,000 after acquiring an additional 35,700 shares during the last quarter. Compagnie Lombard Odier SCmA raised its stake in shares of Starbucks by 1,163.4% in the second quarter. Compagnie Lombard Odier SCmA now owns 177,322 shares of the coffee company’s stock worth $10,338,000 after acquiring an additional 163,287 shares during the last quarter. Finally, UBS Oconnor LLC bought a new position in shares of Starbucks in the second quarter worth about $4,950,000. 71.07% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of a number of research analyst reports. UBS dropped their target price on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Cowen reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks in a research note on Friday, September 1st. Mizuho set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley lifted their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, Vetr cut shares of Starbucks 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.26.
In related news, insider Howard D. Schultz sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the completion of the transaction, the insider now owns 29,798,282 shares in the company, valued at $1,706,845,592.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the business’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 transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. Corporate insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $58.76 on Tuesday. The stock has a market cap of $83,600.00, a P/E ratio of 27.69, a P/E/G ratio of 1.57 and a beta of 0.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87.
Starbucks (NASDAQ:SBUX) last issued 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. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.04%. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is currently 60.91%.
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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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