Sabal Trust CO grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 289,486 shares of the coffee company’s stock after acquiring an additional 14,253 shares during the quarter. Sabal Trust CO’s holdings in Starbucks were worth $16,625,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Coastline Trust Co purchased a new position in shares of Starbucks in the second quarter worth about $201,000. Summit Global Investments purchased a new position in shares of Starbucks in the second quarter worth about $614,000. Stephens Inc. AR raised its stake in shares of Starbucks by 13.5% in the second quarter. Stephens Inc. AR now owns 121,246 shares of the coffee company’s stock worth $7,070,000 after purchasing an additional 14,380 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in shares of Starbucks in the second quarter worth about $199,000. Finally, Raymond James Trust N.A. raised its stake in shares of Starbucks by 1.9% in the second quarter. Raymond James Trust N.A. now owns 25,927 shares of the coffee company’s stock worth $1,512,000 after purchasing an additional 481 shares during the last quarter. 73.63% of the stock is owned by institutional investors and hedge funds.
Shares of Starbucks Co. (SBUX) opened at $59.00 on Friday. The company has a market capitalization of $83,450.00, a P/E ratio of 18.85, a PEG ratio of 1.63 and a beta of 0.67. Starbucks Co. has a 12-month low of $52.58 and a 12-month 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 0.81.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the Zacks’ 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 return on equity of 56.35% and a net margin of 19.28%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. sell-side analysts anticipate that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is presently 38.34%.
Several brokerages have recently issued reports on SBUX. UBS set a $66.00 price objective on Starbucks and gave the stock a “buy” rating in a research note on Thursday. Vetr cut Starbucks from a “buy” rating to a “hold” rating and set a $60.26 price objective for the company. in a research note on Monday, March 12th. Zacks Investment Research cut Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. BidaskClub upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Mizuho cut Starbucks from a “buy” rating to a “neutral” rating and raised 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. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.64.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total value of $3,596,263.80. Following the transaction, the director now directly owns 26,500 shares in the company, valued at approximately $1,592,650. The disclosure for this sale can be found here. Insiders sold 247,664 shares of company stock valued at $14,243,602 over the last 90 days. Company 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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