Parnassus Investments CA boosted its position in Starbucks Co. (NASDAQ:SBUX) by 0.2% during the fourth quarter, Holdings Channel reports. The fund owned 9,306,475 shares of the coffee company’s stock after acquiring an additional 18,399 shares during the period. Starbucks comprises 2.1% of Parnassus Investments CA’s holdings, making the stock its 14th biggest holding. Parnassus Investments CA’s holdings in Starbucks were worth $534,471,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ken Stern & Associates Inc. boosted its position in Starbucks by 0.4% during the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after buying an additional 23 shares during the period. Risk Paradigm Group LLC boosted its position in Starbucks by 0.7% during the second quarter. Risk Paradigm Group LLC now owns 7,470 shares of the coffee company’s stock valued at $436,000 after buying an additional 50 shares during the period. South Texas Money Management Ltd. boosted its position in Starbucks by 0.3% during the second quarter. South Texas Money Management Ltd. now owns 23,826 shares of the coffee company’s stock valued at $1,389,000 after buying an additional 75 shares during the period. Optimum Investment Advisors boosted its position in Starbucks by 0.4% during the second quarter. Optimum Investment Advisors now owns 22,765 shares of the coffee company’s stock valued at $1,327,000 after buying an additional 84 shares during the period. Finally, Green Square Capital LLC boosted its position in Starbucks by 1.0% during the second quarter. Green Square Capital LLC now owns 9,780 shares of the coffee company’s stock valued at $570,000 after buying an additional 100 shares during the period. 73.63% of the stock is currently owned by institutional investors and hedge funds.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 39,000 shares of the company’s stock, valued at $2,126,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. 3.48% of the stock is currently owned by company insiders.
Starbucks Co. (NASDAQ SBUX) opened at $59.40 on Tuesday. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The firm has a market cap of $83,490.00, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67. 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 (NASDAQ:SBUX) last announced its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities research analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Wednesday, February 7th. Starbucks’s dividend payout ratio is 38.34%.
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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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