Bank Hapoalim BM lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 23.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,978 shares of the coffee company’s stock after selling 8,800 shares during the period. Bank Hapoalim BM’s holdings in Starbucks were worth $1,690,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. State Street Corp increased its holdings in Starbucks by 2.7% during the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Magellan Asset Management Ltd increased its holdings in Starbucks by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after acquiring an additional 1,809,166 shares during the period. Polen Capital Management LLC grew its holdings in shares of Starbucks by 8.3% during the 2nd quarter. Polen Capital Management LLC now owns 11,335,091 shares of the coffee company’s stock worth $660,949,000 after acquiring an additional 870,373 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Starbucks by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 6,985,177 shares of the coffee company’s stock worth $407,320,000 after acquiring an additional 229,758 shares during the period. Institutional investors own 71.07% of the company’s stock.
A number of research analysts have weighed in on SBUX shares. OTR Global upgraded Starbucks to a “positive” rating in a report on Thursday, October 26th. Morgan Stanley upped their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Starbucks from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Bank of America reiterated a “neutral” rating and set a $65.00 target price on shares of Starbucks in a report on Thursday, September 14th. Finally, Cowen reiterated a “buy” rating and set a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $63.26.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down $0.14 during trading on Thursday, reaching $59.14. The company had a trading volume of 6,033,792 shares, compared to its average volume of 9,364,394. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87. The company has a market cap of $84,140.00, a PE ratio of 28.67, a P/E/G ratio of 1.62 and a beta of 0.76. 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 (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm earned $0.56 EPS. Starbucks’s revenue for the quarter was down .2% compared to the same quarter last year. equities research analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is presently 60.91%.
In other Starbucks news, insider Howard D. Schultz sold 25,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $57.28, for a total value of $1,432,000.00. Following the completion of the sale, the insider now owns 29,798,282 shares in the company, valued at approximately $1,706,845,592.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Craig Weatherup sold 56,666 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders sold a total of 502,584 shares of company stock valued at $28,461,828 in the last quarter. 3.40% of the stock is currently owned by company insiders.
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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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