Starbucks Corporation (SBUX) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,584 shares of the coffee company’s stock after selling 524 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Starbucks Corporation were worth $6,273,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC boosted its position in Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC boosted its position in Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer boosted its position in Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the period. IHT Wealth Management LLC boosted its position in Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks Corporation during the first quarter worth $122,000. 70.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $57.22 on Wednesday. The firm has a market capitalization of $82,620.00, a PE ratio of 27.07, a PEG ratio of 1.40 and a beta of 0.72. 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 twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. research analysts anticipate that Starbucks Corporation will post 2.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s payout ratio is 50.76%.
A number of equities research analysts have recently weighed in on SBUX shares. Cowen and Company reissued an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a report on Friday, July 21st. Nomura dropped their target price on Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Mizuho reissued a “buy” rating and set a $75.00 target price on shares of Starbucks Corporation in a report on Friday, September 29th. Credit Suisse Group reissued a “buy” rating on shares of Starbucks Corporation in a report on Monday. Finally, Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Twelve research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Starbucks Corporation presently has a consensus rating of “Buy” and an average target price of $63.14.
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In other news, insider John Culver sold 64,776 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was 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 disclosure for this sale can be found here. 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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