Coastline Trust Co Takes $201,000 Position in Starbucks Corporation (SBUX)
Coastline Trust Co bought a new position in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,445 shares of the coffee company’s stock, valued at approximately $201,000.
Several other institutional investors have also modified their holdings of SBUX. Appropriate Balance Financial Services Inc. boosted its position in Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after purchasing an additional 13 shares during the last quarter. Jacobi Capital Management LLC raised its holdings 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 valued at $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC raised its holdings in Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer raised its holdings in Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings 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 valued at $117,000 after buying an additional 187 shares in the last quarter. 72.01% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on SBUX. Guggenheim lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Jefferies Group LLC restated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. Stifel Nicolaus lowered Starbucks Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $66.00 to $58.00 in a research note on Friday, July 28th. Finally, UBS AG set a $67.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Twelve investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.31.
Starbucks Corporation (NASDAQ:SBUX) opened at $57.24 on Friday. Starbucks Corporation has a one year low of $52.58 and a one year 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. The company has a market cap of $81,171.72, a PE ratio of 27.39, a PEG ratio of 1.55 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business posted $0.56 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. research analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be paid a $0.30 dividend. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
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In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction dated 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 transaction, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders sold a total of 443,884 shares of company stock valued at $25,041,780 over the last quarter. 3.40% of the stock is currently owned by company insiders.
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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