Freestone Capital Holdings LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,069 shares of the coffee company’s stock after selling 98 shares during the period. Freestone Capital Holdings LLC’s holdings in Starbucks Corporation were worth $2,395,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Carderock Capital Management Inc. increased its holdings in shares of Starbucks Corporation by 1.4% in the 2nd quarter. Carderock Capital Management Inc. now owns 58,868 shares of the coffee company’s stock worth $3,433,000 after buying an additional 831 shares during the last quarter. Dearborn Partners LLC increased its holdings in shares of Starbucks Corporation by 8.1% in the 2nd quarter. Dearborn Partners LLC now owns 330,584 shares of the coffee company’s stock worth $19,276,000 after buying an additional 24,807 shares during the last quarter. Dillon & Associates Inc. increased its holdings in shares of Starbucks Corporation by 0.3% in the 2nd quarter. Dillon & Associates Inc. now owns 115,757 shares of the coffee company’s stock worth $6,714,000 after buying an additional 367 shares during the last quarter. Ffcm LLC increased its holdings in shares of Starbucks Corporation by 8.1% in the 2nd quarter. Ffcm LLC now owns 41,685 shares of the coffee company’s stock worth $2,431,000 after buying an additional 3,115 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in shares of Starbucks Corporation by 14.2% in the 2nd quarter. Glassman Wealth Services now owns 3,250 shares of the coffee company’s stock worth $190,000 after buying an additional 405 shares during the last quarter. Institutional investors own 70.83% of the company’s stock.
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A number of analysts have recently weighed in on the stock. Vetr downgraded shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.32 target price on the stock. in a report on Monday. Morgan Stanley boosted their target price on shares of Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday. Credit Suisse Group restated a “buy” rating on shares of Starbucks Corporation in a report on Monday, November 6th. Deutsche Bank AG reduced their target price on shares of Starbucks Corporation to $62.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, UBS AG reduced their target price on shares of Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus price target of $63.31.
Starbucks Corporation (NASDAQ SBUX) opened at $57.04 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. The company has a market cap of $81,658.46, a P/E ratio of 27.56, a P/E/G ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business posted $0.56 EPS. Starbucks Corporation’s revenue for the quarter was down .2% compared to the same quarter last year. analysts forecast that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.10%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
In other Starbucks Corporation news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Insiders have sold a total of 150,708 shares of company stock worth $8,322,192 in the last 90 days. 3.40% of the stock is currently owned by company insiders.
Starbucks Corporation 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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