Starbucks Corporation (SBUX) Shares Bought by L & S Advisors Inc

L & S Advisors Inc lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,350 shares of the coffee company’s stock after buying an additional 1,358 shares during the quarter. L & S Advisors Inc’s holdings in Starbucks were worth $1,653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SBUX. Magellan Asset Management Ltd boosted its stake in shares of Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Starbucks by 539.2% in the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after buying an additional 3,305,700 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after buying an additional 1,953,003 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after purchasing an additional 1,809,166 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Starbucks by 60.0% in the 2nd quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock worth $261,014,000 after purchasing an additional 1,678,506 shares during the period. Hedge funds and other institutional investors own 71.07% of the company’s stock.

In related news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 525,550 shares of company stock valued at $29,688,442. Insiders own 3.40% of the company’s stock.

Starbucks Corporation (NASDAQ SBUX) opened at $58.76 on Tuesday. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market capitalization of $83,600.00, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.57 and a beta of 0.76. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. equities research analysts expect that Starbucks Corporation will post 2.31 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.

SBUX has been the subject of a number of analyst reports. BMO Capital Markets cut Starbucks from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $54.52 to $64.00 in a report on Wednesday, August 9th. Morgan Stanley reduced their price target on Starbucks from $68.00 to $62.00 and set a “weight” rating for the company in a report on Tuesday, August 22nd. Cleveland Research cut Starbucks from a “buy” rating to a “neutral” rating in a report on Wednesday, August 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Starbucks in a report on Wednesday, August 23rd. Finally, Cowen reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Starbucks in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target 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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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