Pacad Investment Ltd. bought a new stake in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,420 shares of the coffee company’s stock, valued at approximately $1,599,000.
A number of other large investors have also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd lifted its holdings in Starbucks Corporation by 3,809,645.9% in the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Starbucks Corporation by 32.9% in the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after purchasing an additional 3,511,080 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Starbucks Corporation by 7.8% in the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after purchasing an additional 2,234,324 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Starbucks Corporation by 60.0% in the 2nd quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock valued at $261,014,000 after purchasing an additional 1,678,506 shares in the last quarter. Finally, State Street Corp lifted its holdings in Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares in the last quarter. Institutional investors own 70.87% of the company’s stock.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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A number of research analysts have issued reports on SBUX shares. Cowen and Company restated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a report on Friday, July 21st. Nomura reduced their target price on shares of Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Friday. Mizuho reiterated a “buy” rating and set a $75.00 price objective on shares of Starbucks Corporation in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Tuesday, July 25th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks Corporation presently has an average rating of “Buy” and a consensus price target of $63.02.
Starbucks Corporation (NASDAQ:SBUX) opened at $56.03 on Friday. The company has a market cap of $80,901.72, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 52.65%. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.32 EPS for the current year.
The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.14%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is currently 50.76%.
About Starbucks Corporation
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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