First Trust Advisors LP boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 49.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 712,247 shares of the coffee company’s stock after purchasing an additional 235,120 shares during the quarter. First Trust Advisors LP owned 0.05% of Starbucks worth $40,904,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Godsey & Gibb Associates increased its holdings in Starbucks by 1.6% in the 2nd quarter. Godsey & Gibb Associates now owns 244,969 shares of the coffee company’s stock valued at $14,284,000 after buying an additional 3,840 shares during the period. Rafferty Asset Management LLC increased its holdings in Starbucks by 15.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 23,778 shares of the coffee company’s stock valued at $1,386,000 after buying an additional 3,165 shares during the period. Lazard Asset Management LLC increased its holdings in Starbucks by 3.7% in the 2nd quarter. Lazard Asset Management LLC now owns 1,063,550 shares of the coffee company’s stock valued at $62,014,000 after buying an additional 37,584 shares during the period. Pathstone Family Office LLC increased its holdings in Starbucks by 6.0% in the 2nd quarter. Pathstone Family Office LLC now owns 3,382 shares of the coffee company’s stock valued at $2,412,000 after buying an additional 190 shares during the period. Finally, Trilogy Global Advisors LP increased its holdings in Starbucks by 80.0% in the 2nd quarter. Trilogy Global Advisors LP now owns 880,363 shares of the coffee company’s stock valued at $51,334,000 after buying an additional 391,166 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.
Starbucks Co. (NASDAQ:SBUX) opened at $57.77 on Friday. The stock has a market cap of $82,452.49, a PE ratio of 19.07, a P/E/G ratio of 1.62 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.08%. Starbucks’s dividend payout ratio (DPR) is 39.60%.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the director now owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. In the last quarter, insiders have sold 247,664 shares of company stock worth $14,243,602. 3.48% of the stock is owned by corporate insiders.
Several equities research analysts have issued reports on SBUX shares. Vetr raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $62.03 price target on the stock in a report on Monday, January 29th. Mizuho lowered shares of Starbucks from a “buy” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $75.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial started coverage on shares of Starbucks in a report on Wednesday, December 27th. They issued a “buy” rating on the stock. Wedbush reissued a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $66.00 target price on shares of Starbucks in a report on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target 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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