Teacher Retirement System of Texas increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 789,930 shares of the coffee company’s stock after acquiring an additional 6,859 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Starbucks worth $42,427,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Private Asset Management Inc. boosted its holdings in shares of Starbucks by 2.0% in the 2nd quarter. Private Asset Management Inc. now owns 138,920 shares of the coffee company’s stock valued at $8,100,000 after acquiring an additional 2,731 shares during the last quarter. Triangle Securities Wealth Management boosted its holdings in Starbucks by 47.2% during the second quarter. Triangle Securities Wealth Management now owns 8,625 shares of the coffee company’s stock worth $503,000 after buying an additional 2,766 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its holdings in Starbucks by 38.5% during the second quarter. Independent Portfolio Consultants Inc. now owns 10,678 shares of the coffee company’s stock worth $623,000 after buying an additional 2,968 shares in the last quarter. First PREMIER Bank boosted its holdings in Starbucks by 14.9% during the second quarter. First PREMIER Bank now owns 5,440 shares of the coffee company’s stock worth $317,000 after buying an additional 707 shares in the last quarter. Finally, First American Trust FSB purchased a new stake in Starbucks during the second quarter worth $3,621,000. Hedge funds and other institutional investors own 70.89% of the company’s stock.
In related news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 660,634 shares of company stock worth $37,843,859. 3.40% of the stock is currently owned by insiders.
Starbucks Co. (NASDAQ:SBUX) opened at $55.77 on Friday. The company has a market cap of $79,020.00, a price-to-earnings ratio of 18.41, a PEG ratio of 1.55 and a beta of 0.70. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.93.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. analysts predict that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.15%. Starbucks’s dividend payout ratio (DPR) is 39.60%.
SBUX has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Mizuho set a $75.00 target price on shares of Starbucks and gave the company a “buy” rating in a research report on Wednesday, November 1st. Morgan Stanley increased their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a research report on Thursday, November 2nd. Finally, Oppenheimer restated a “buy” rating and set a $66.00 price objective on shares of Starbucks in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average target price of $64.32.
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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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