Barings LLC Continues to Hold Position in Starbucks Corporation (SBUX)
Barings LLC continued to hold its stake in Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,071 shares of the coffee company’s stock at the end of the 2nd quarter. Barings LLC’s holdings in Starbucks were worth $9,638,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its position in Starbucks 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 Starbucks 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. IHT Wealth Management LLC increased its position in shares of Starbucks by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the period. Valley National Advisers Inc. increased its position in shares of Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after acquiring an additional 57 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Starbucks during the second quarter worth $128,000. 71.07% of the stock is currently owned by institutional investors.
Starbucks Corporation (NASDAQ SBUX) opened at $59.34 on Wednesday. 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 $83,603.73, a price-to-earnings ratio of 28.39, a P/E/G ratio of 1.61 and a beta of 0.75. Starbucks Corporation has a 12 month low of $52.58 and a 12 month high of $64.87.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is currently 60.91%.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on 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 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. Insiders sold 525,550 shares of company stock valued at $29,688,442 in the last 90 days. 3.40% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on the company. Stephens reaffirmed an “equal weight” rating and set a $52.00 price objective (down previously from $58.00) on shares of Starbucks in a research report on Friday, September 29th. They noted that the move was a valuation call. Cleveland Research lowered Starbucks from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Credit Suisse Group cut their price objective on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a research report on Thursday, October 5th. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.26.
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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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