LGT Capital Partners LTD. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 437,150 shares of the coffee company’s stock after buying an additional 3,360 shares during the quarter. Starbucks accounts for about 2.3% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 13th largest holding. LGT Capital Partners LTD.’s holdings in Starbucks were worth $25,106,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. bought a new position in Starbucks during the 3rd quarter worth approximately $111,000. Jacobi Capital Management LLC raised its holdings in Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. raised its holdings in Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the last quarter. Horan Capital Advisors LLC. bought a new position in Starbucks during the 3rd quarter worth approximately $131,000. Finally, Aviance Capital Management LLC bought a new position in Starbucks during the 2nd quarter worth approximately $146,000. Institutional investors own 71.92% of the company’s stock.
Several research analysts have issued reports on the stock. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.03 price target for the company. in a report on Wednesday. Credit Suisse Group lowered their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Deutsche Bank restated a “buy” rating and set a $63.00 price target on shares of Starbucks in a report on Friday, January 26th. OTR Global upgraded shares of Starbucks to a “positive” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.63.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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 analyst estimates of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. Starbucks’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. equities research analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.14%. Starbucks’s dividend payout ratio (DPR) is presently 40.27%.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 329,492 shares of company stock valued at $18,859,801 in the last 90 days. 3.48% of the stock is currently owned by company insiders.
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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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