Glovista Investments LLC maintained its position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,038 shares of the coffee company’s stock at the end of the 2nd quarter. Glovista Investments LLC’s holdings in Starbucks were worth $760,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. raised its holdings in shares of Starbucks by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares during the period. Jacobi Capital Management LLC raised its holdings in shares of Starbucks by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC raised its holdings in shares of Starbucks by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the period. Sharkey Howes & Javer raised its holdings in shares of Starbucks by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the period. Finally, IHT Wealth Management LLC raised its holdings 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 purchasing an additional 187 shares during the period. 71.07% of the stock is currently owned by hedge funds and other institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard D. Schultz sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now directly owns 29,798,282 shares of the company’s stock, valued at $1,706,845,592.96. The disclosure for this sale can be found here. Insiders sold a total of 525,550 shares of company stock valued at $29,688,442 in the last quarter. 3.40% of the stock is currently owned by insiders.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. Starbucks’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. equities analysts forecast that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is currently 60.91%.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley upped their price target on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a research report on Monday, November 13th. UBS set a $64.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Credit Suisse Group restated a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $63.26.
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Starbucks 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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