People s United Financial Inc. boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 200,403 shares of the coffee company’s stock after acquiring an additional 586 shares during the period. People s United Financial Inc.’s holdings in Starbucks were worth $11,686,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Appropriate Balance Financial Services Inc. boosted its stake in shares of Starbucks by 1.6% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after purchasing an additional 13 shares in the last quarter. Union Bankshares Corp boosted its stake in shares of Starbucks by 0.4% during the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after purchasing an additional 14 shares in the last quarter. Ken Stern & Associates Inc. boosted its stake in shares of Starbucks by 0.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after purchasing an additional 23 shares in the last quarter. Vaughan David Investments Inc. IL boosted its stake in shares of Starbucks by 0.6% during the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after purchasing an additional 26 shares in the last quarter. Finally, Spectrum Management Group Inc. boosted its stake in shares of Starbucks by 0.3% during the 2nd quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after purchasing an additional 30 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corporation (SBUX) opened at $57.32 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market cap of $81,554.90, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.57 and a beta of 0.75. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.09%. Starbucks’s payout ratio is 60.91%.
A number of equities research analysts have recently weighed in on SBUX shares. OTR Global raised shares of Starbucks to a “positive” rating in a research note on Thursday, October 26th. Morgan Stanley lifted their target price on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Zacks Investment Research raised shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Bank of America reaffirmed a “neutral” rating and set a $65.00 target price on shares of Starbucks in a research note on Thursday, September 14th. Finally, Cowen reissued a “buy” rating and set a $63.00 price target on shares of Starbucks in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Starbucks presently has a consensus rating of “Buy” and an average price target of $63.26.
In other Starbucks news, insider John Culver sold 64,776 shares of Starbucks stock in a transaction dated 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 transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks 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 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. Insiders sold 525,550 shares of company stock valued at $29,688,442 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
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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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