Forbes J M & Co. LLP Grows Stake in Starbucks Corporation (SBUX)
Forbes J M & Co. LLP grew its position in Starbucks Corporation (NASDAQ:SBUX) by 42.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 106,341 shares of the coffee company’s stock after buying an additional 31,814 shares during the period. Forbes J M & Co. LLP’s holdings in Starbucks Corporation were worth $6,200,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Appropriate Balance Financial Services Inc. grew its stake in shares of Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares during the period. Union Bankshares Corp grew its stake in shares of Starbucks Corporation by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after purchasing an additional 14 shares during the period. Vaughan David Investments Inc. IL grew its stake in shares of Starbucks Corporation by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after purchasing an additional 26 shares during the period. CWM LLC grew its stake in shares of Starbucks Corporation by 0.6% during the second quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock worth $308,000 after purchasing an additional 30 shares during the period. Finally, Spectrum Management Group Inc. grew its stake in shares of Starbucks Corporation by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after purchasing an additional 30 shares during the period. 71.49% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on SBUX shares. UBS AG decreased their price objective on Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Cowen and Company reaffirmed a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a research note on Friday, September 1st. Mizuho set a $75.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Vetr cut Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a research note on Thursday, November 2nd. Finally, Morgan Stanley lifted their price objective on Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Twelve analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $63.27.
Starbucks Corporation (NASDAQ SBUX) opened at $56.93 on Monday. The firm has a market capitalization of $82,200.00, a P/E ratio of 27.50, a price-to-earnings-growth 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 has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a $0.30 dividend. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.11%. Starbucks Corporation’s dividend payout ratio is presently 60.91%.
In other news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 443,884 shares of company stock worth $25,041,780 in the last ninety days. 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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