Profund Advisors LLC Grows Stake in Starbucks Corporation (SBUX)
Profund Advisors LLC grew its holdings in Starbucks Corporation (NASDAQ:SBUX) by 8.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,829 shares of the coffee company’s stock after purchasing an additional 10,582 shares during the quarter. Profund Advisors LLC’s holdings in Starbucks Corporation were worth $7,512,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new stake in Starbucks Corporation during the second quarter worth approximately $26,962,000. Impala Asset Management LLC acquired a new stake in Starbucks Corporation during the second quarter worth approximately $919,000. BT Investment Management Ltd acquired a new stake in Starbucks Corporation during the second quarter worth approximately $4,294,000. Amalgamated Bank boosted its position in Starbucks Corporation by 53.9% during the second quarter. Amalgamated Bank now owns 167,202 shares of the coffee company’s stock worth $9,750,000 after acquiring an additional 58,581 shares during the last quarter. Finally, Nicholas Company Inc. boosted its position in Starbucks Corporation by 0.3% during the second quarter. Nicholas Company Inc. now owns 865,965 shares of the coffee company’s stock worth $50,494,000 after acquiring an additional 2,655 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
A number of analysts recently issued reports on the stock. Vetr upgraded shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.05 target price on the stock in a research report on Tuesday. UBS AG set a $64.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley raised their target price on shares of Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Credit Suisse Group restated a “buy” rating on shares of Starbucks Corporation in a research report on Monday, November 6th. Finally, Deutsche Bank AG decreased their target price on shares of Starbucks Corporation to $62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Twelve equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation has an average rating of “Buy” and a consensus price target of $63.31.
Starbucks Corporation (NASDAQ:SBUX) opened at $56.81 on Tuesday. The firm has a market cap of $81,880.00, a price-to-earnings 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 fifty-two week low of $52.58 and a fifty-two week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data 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 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 revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. sell-side analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 60.91%.
In other news, Director Javier G. Teruel sold 62,966 shares of Starbucks Corporation stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation 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 of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,884 shares of company stock valued at $25,041,780. 3.40% of the stock is owned by company insiders.
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Starbucks Corporation Company 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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