Nordea Investment Management AB increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,217,056 shares of the coffee company’s stock after purchasing an additional 87,902 shares during the quarter. Nordea Investment Management AB owned 0.09% of Starbucks worth $65,368,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC grew its position in shares of Starbucks by 45.8% in the second quarter. Northwest Investment Counselors LLC now owns 22,408 shares of the coffee company’s stock valued at $1,307,000 after purchasing an additional 7,036 shares during the period. NN Investment Partners Holdings N.V. boosted its holdings in Starbucks by 6.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 94,636 shares of the coffee company’s stock valued at $5,519,000 after acquiring an additional 6,009 shares during the last quarter. Bank of The West boosted its holdings in Starbucks by 17.3% in the second quarter. Bank of The West now owns 83,215 shares of the coffee company’s stock valued at $4,852,000 after acquiring an additional 12,264 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Starbucks in the second quarter valued at $26,395,000. Finally, Union Bankshares Corp boosted its holdings in Starbucks by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after acquiring an additional 14 shares during the last quarter. 71.92% of the stock is owned by institutional investors.
Shares of Starbucks Co. (NASDAQ:SBUX) traded up $0.32 during trading hours on Wednesday, reaching $55.99. 14,190,000 shares of the company’s stock traded hands, compared to its average volume of 12,620,000. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks Co. has a 52 week low of $52.58 and a 52 week high of $64.87. The firm has a market cap of $78,700.00, a P/E ratio of 18.79, a P/E/G ratio of 1.53 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $6.19 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Starbucks’s revenue for the quarter was up 5.9% compared to the same quarter last year. analysts expect that Starbucks Co. will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, February 7th. Starbucks’s payout ratio is 40.27%.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold 329,492 shares of company stock worth $18,859,801 over the last three months. Company insiders own 3.48% of the company’s stock.
A number of research analysts have commented on the company. Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price objective on the stock. in a research note on Wednesday. Mizuho cut Starbucks from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Starbucks from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, January 30th. BidaskClub cut Starbucks from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Finally, Robert W. Baird lowered their price objective on Starbucks from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Starbucks has a consensus rating of “Buy” and an average target price of $64.63.
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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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