Summit X LLC Has $366,000 Stake in Starbucks Co. (SBUX)

Summit X LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 19.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,789 shares of the coffee company’s stock after acquiring an additional 1,100 shares during the quarter. Summit X LLC’s holdings in Starbucks were worth $366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Appropriate Balance Financial Services Inc. raised its holdings in shares of Starbucks by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after acquiring an additional 13 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of Starbucks by 10.2% in 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 last quarter. Valley National Advisers Inc. raised its holdings in shares of Starbucks by 2.8% in 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 last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Starbucks in the second quarter worth $128,000. 71.07% of the stock is owned by institutional investors.

In other news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was 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. Insiders have sold 497,808 shares of company stock valued at $28,559,521 over the last 90 days. 3.40% of the stock is currently owned by insiders.

Shares of Starbucks Co. (NASDAQ:SBUX) opened at $58.29 on Monday. The company has a market capitalization of $82,935.02, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. sell-side analysts anticipate that Starbucks Co. will post 2.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.06%. Starbucks’s dividend payout ratio is currently 60.91%.

SBUX has been the subject of several analyst reports. Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 target price for the company. in a research note on Monday, November 27th. UBS set a $64.00 target price on Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 15th. Morgan Stanley upped their target price on Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.26.

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About Starbucks

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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