Mutual of America Capital Management LLC Has $10.28 Million Holdings in Starbucks Corporation (SBUX)
Mutual of America Capital Management LLC trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,294 shares of the coffee company’s stock after selling 1,162 shares during the period. Mutual of America Capital Management LLC’s holdings in Starbucks Corporation were worth $10,280,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Starbucks Corporation by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after acquiring an additional 10,250 shares during the last quarter. Geneva Advisors LLC raised its position in Starbucks Corporation by 2.3% in the 2nd quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after purchasing an additional 63,041 shares during the period. Private Vista LLC raised its position in Starbucks Corporation by 3,334.9% in the 2nd quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock worth $160,000 after purchasing an additional 213,303 shares during the period. Welch Group LLC purchased a new position in Starbucks Corporation in the 2nd quarter worth $406,000. Finally, TrimTabs Asset Management LLC raised its position in Starbucks Corporation by 104.9% in the 2nd quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock worth $250,000 after purchasing an additional 2,199 shares during the period. 71.49% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts recently commented on the stock. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC restated an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, Stifel Nicolaus cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and reduced their price target for the company from $66.00 to $58.00 in a research report on Friday, July 28th. 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. Starbucks Corporation has a consensus rating of “Buy” and a consensus price target of $63.31.
Starbucks Corporation (NASDAQ:SBUX) opened at $57.14 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 12-month low of $52.58 and a 12-month high of $64.87. The firm has a market cap of $81,469.53, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share 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 firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. Starbucks Corporation’s revenue for the quarter was down .2% on a year-over-year basis. analysts expect that Starbucks Corporation will post 2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be given a dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks Corporation’s dividend payout ratio is currently 60.91%.
In other news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. 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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