Starbucks Corporation (SBUX) Holdings Reduced by Pittenger & Anderson Inc.
Pittenger & Anderson Inc. trimmed its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 25.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,910 shares of the coffee company’s stock after selling 6,371 shares during the period. Pittenger & Anderson Inc.’s holdings in Starbucks Corporation were worth $1,103,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in SBUX. Jacobi Capital Management LLC lifted its position in shares of 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 in the last quarter. Gradient Investments LLC lifted its position in shares of 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 in the last quarter. Sharkey Howes & Javer lifted its position in shares of 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 in the last quarter. IHT Wealth Management LLC lifted its position in shares of 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 in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth approximately $122,000. Institutional investors own 72.01% of the company’s stock.
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In other Starbucks Corporation 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 completion of the sale, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Culver sold 64,776 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Insiders have sold 150,708 shares of company stock valued at $8,322,192 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Corporation (NASDAQ SBUX) opened at $56.64 on Tuesday. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a market cap of $81,658.46, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.56 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors 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. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 annualized dividend and a yield of 2.12%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
A number of equities analysts have recently issued reports on SBUX shares. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Cowen and Company reiterated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research report on Friday, July 21st. Wedbush reiterated a “neutral” rating and set a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Twelve research 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. Starbucks Corporation currently has an average rating of “Buy” and an average target price of $63.31.
Starbucks Corporation 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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