Northwestern Mutual Wealth Management Co. grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 109.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,405 shares of the coffee company’s stock after buying an additional 101,221 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Starbucks Corporation were worth $11,277,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Columbia Asset Management grew its holdings in shares of Starbucks Corporation by 11.6% during the second quarter. Columbia Asset Management now owns 69,028 shares of the coffee company’s stock valued at $4,025,000 after buying an additional 7,177 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in Starbucks Corporation in the second quarter worth approximately $165,000. New England Private Wealth Advisors LLC boosted its holdings in Starbucks Corporation by 3.8% in the second quarter. New England Private Wealth Advisors LLC now owns 9,999 shares of the coffee company’s stock worth $575,000 after purchasing an additional 363 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Starbucks Corporation by 455.0% in the second quarter. Thompson Davis & CO. Inc. now owns 8,436 shares of the coffee company’s stock worth $492,000 after purchasing an additional 6,916 shares during the last quarter. Finally, Financial Counselors Inc. boosted its holdings in Starbucks Corporation by 1.3% in the second quarter. Financial Counselors Inc. now owns 167,903 shares of the coffee company’s stock worth $9,790,000 after purchasing an additional 2,142 shares during the last quarter. Hedge funds and other institutional investors own 72.01% of the company’s stock.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction 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 completion of the sale, the director now owns 36,966 shares in the company, valued at $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 over the last 90 days. Insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.70 on Thursday. The company has a market cap of $81,500.98, a price-to-earnings ratio of 27.50, a PEG ratio of 1.56 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 announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The company’s revenue was down .2% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
Several brokerages recently issued reports on SBUX. Credit Suisse Group dropped their target price on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Wedbush restated a “neutral” rating and issued a $60.00 target price (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Twelve analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $63.31.
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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