Vontobel Asset Management Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,421,804 shares of the coffee company’s stock after buying an additional 653,882 shares during the period. Starbucks makes up 1.9% of Vontobel Asset Management Inc.’s portfolio, making the stock its 20th biggest position. Vontobel Asset Management Inc. owned about 0.31% of Starbucks worth $259,745,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks during the 3rd quarter valued at about $111,000. Jacobi Capital Management LLC boosted its position in shares of Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Starbucks during the 3rd quarter valued at about $131,000. Finally, Stonehearth Capital Management LLC bought a new position in shares of Starbucks during the 4th quarter valued at about $142,000. 71.92% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on SBUX. OTR Global upgraded shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. Morgan Stanley raised their target price on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Vetr cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 target price for the company. in a report on Monday, January 8th. Tigress Financial began coverage on shares of Starbucks in a report on Wednesday, December 27th. They issued a “buy” rating for the company. Finally, Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their target price for the stock from $73.00 to $68.00 in a report on Friday, January 26th. One equities research 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. The stock presently has an average rating of “Buy” and an average target price of $64.63.
Shares of Starbucks Co. (SBUX) opened at $56.48 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The company has a market cap of $79,250.00, a P/E ratio of 18.95, a P/E/G ratio of 1.57 and a beta of 0.70. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. analysts anticipate that Starbucks Co. will post 2.49 EPS for the current year.
The firm 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date is Wednesday, February 7th. Starbucks’s payout ratio is presently 40.27%.
In related news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the transaction, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction that occurred on 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. In the last ninety days, insiders have sold 329,492 shares of company stock worth $18,859,801. Insiders own 3.40% of the company’s stock.
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Starbucks Company 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.
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