Sandy Spring Bank Has $2.04 Million Stake in Starbucks Corporation (NASDAQ:SBUX)

Sandy Spring Bank lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,962 shares of the coffee company’s stock after selling 1,813 shares during the quarter. Sandy Spring Bank’s holdings in Starbucks were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Appropriate Balance Financial Services Inc. increased its position in shares of Starbucks by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after buying an additional 13 shares during the period. Union Bankshares Corp increased its position in shares of Starbucks by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after buying an additional 14 shares during the period. Vaughan David Investments Inc. IL increased its position in shares of Starbucks by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after buying an additional 26 shares during the period. Spectrum Management Group Inc. increased its position in shares of Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after buying an additional 30 shares during the period. Finally, Ingalls & Snyder LLC increased its position in shares of Starbucks by 1.1% during the first quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after buying an additional 40 shares during the period. Institutional investors own 71.07% of the company’s stock.

In other Starbucks news, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Culver sold 64,776 shares of the stock in a transaction 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 transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,584 shares of company stock valued at $28,461,828. 3.40% of the stock is owned by company insiders.

Shares of Starbucks Corporation (SBUX) traded down $0.14 during trading hours on Thursday, hitting $59.14. 6,033,792 shares of the company were exchanged, compared to its average volume of 9,364,394. 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 Corporation has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a market capitalization of $84,140.00, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 1.62 and a beta of 0.76.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were given a dividend of $0.30 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. Starbucks’s dividend payout ratio is currently 60.91%.

Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective on the stock. in a research note on Monday, November 27th. UBS set a $64.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Morgan Stanley boosted their price objective on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $63.26.

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Starbucks 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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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