Starbucks Corporation (SBUX) Shares Bought by TCI Wealth Advisors Inc.
TCI Wealth Advisors Inc. grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,381 shares of the coffee company’s stock after purchasing an additional 1,704 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Starbucks Corporation were worth $605,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobi Capital Management LLC raised its position in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC raised its position in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer raised its position in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares during the period. IHT Wealth Management LLC raised its position in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC bought a new position in shares of Starbucks Corporation in the first quarter valued at about $122,000. 72.01% of the stock is currently owned by institutional investors.
Starbucks Corporation (SBUX) opened at $56.93 on Friday. The stock has a market cap of $81,500.98, a P/E ratio of 27.50, a P/E/G ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.56 EPS. equities analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, November 15th. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
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Several equities analysts recently commented on SBUX shares. Vetr downgraded shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.32 price target on the stock. in a research note on Monday, November 13th. UBS AG set a $64.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets downgraded shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and upped their price target for the company from $54.52 to $64.00 in a research note on Wednesday, August 9th. Robert W. Baird decreased their price target on shares of Starbucks Corporation from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, Wedbush restated a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Twelve equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.31.
In related news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,884 shares of company stock valued at $25,041,780. 3.40% of the stock is 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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