ProShare Advisors LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,258 shares of the coffee company’s stock after acquiring an additional 73,667 shares during the period. ProShare Advisors LLC’s holdings in Starbucks were worth $31,328,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Starbucks by 12.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after purchasing an additional 10,250 shares during the last quarter. Geneva Advisors LLC increased its stake in Starbucks by 2.3% during the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after acquiring an additional 63,041 shares during the last quarter. Private Vista LLC increased its stake in Starbucks by 3,334.9% during the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock worth $160,000 after acquiring an additional 213,303 shares during the last quarter. Welch Group LLC bought a new stake in Starbucks during the second quarter worth approximately $406,000. Finally, TrimTabs Asset Management LLC increased its stake in Starbucks by 104.9% during the second quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock worth $250,000 after acquiring an additional 2,199 shares during the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.
Several equities research analysts have weighed in on the company. BMO Capital Markets cut Starbucks from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $54.52 to $64.00 in a research note on Wednesday, August 9th. Vetr cut 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. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Robert W. Baird reduced their price objective on Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, Mizuho reissued a “buy” rating and set a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and a consensus target price of $63.26.
Starbucks Corporation (NASDAQ SBUX) traded down $0.14 during trading on Thursday, reaching $59.14. The company’s stock had a trading volume of 6,033,792 shares, compared to its average volume of 9,364,394. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The stock has a market capitalization of $84,140.00, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.62 and a beta of 0.76. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87.
Starbucks (NASDAQ:SBUX) last posted 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. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. research analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders 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 2.03%. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is currently 60.91%.
In other news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the company’s 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 transaction, the director now directly owns 56,666 shares in the company, valued at $3,214,662.18. 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.
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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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