Starbucks Corporation (SBUX) Shares Bought by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,007 shares of the coffee company’s stock after purchasing an additional 129 shares during the quarter. Jacobi Capital Management LLC’s holdings in Starbucks Corporation were worth $116,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Appropriate Balance Financial Services Inc. increased its holdings in shares of Starbucks Corporation by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares during the last quarter. Gradient Investments LLC grew its holdings in Starbucks Corporation by 2.5% during the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after purchasing an additional 46 shares during the last quarter. Sharkey Howes & Javer grew its holdings in Starbucks Corporation by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares during the last quarter. IHT Wealth Management LLC grew its holdings in Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in Starbucks Corporation 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 during the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

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Several equities analysts recently commented on SBUX shares. Cowen and Company reiterated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a report on Friday, July 21st. Vetr upgraded shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.12 price target on the stock in a report on Tuesday. Nomura cut their price target on shares of Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of Starbucks Corporation in a report on Friday, September 29th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks Corporation in a report on Monday, November 6th. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $63.31.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at $56.93 on Wednesday. The company has a market cap of $81,085.82, a P/E ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 0.72. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. 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 (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal 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 issued a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.

In other news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,708 shares of company stock valued at $8,322,192. Corporate insiders own 3.40% of the company’s stock.

About Starbucks Corporation

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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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