Benjamin F. Edwards & Company Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,669 shares of the coffee company’s stock after acquiring an additional 1,632 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Starbucks were worth $2,990,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Starbucks by 2.1% in the 2nd 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 period. Capital World Investors lifted its holdings in shares of Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after buying an additional 895,432 shares during the period. Northern Trust Corp lifted its holdings in shares of Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after buying an additional 1,060,298 shares during the period. Magellan Asset Management Ltd lifted its holdings in shares of Starbucks 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 worth $1,090,000,000 after buying an additional 18,667,265 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of 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 buying an additional 1,809,166 shares during the period. 70.67% of the stock is currently owned by institutional investors.
Shares of Starbucks Co. (SBUX) opened at $57.30 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. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a market capitalization of $81,920.00, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.58 and a beta of 0.76.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid 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 dividend on an annualized basis and a yield of 2.09%. Starbucks’s dividend payout ratio (DPR) is 60.91%.
SBUX has been the subject of several research reports. Piper Jaffray Companies set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a report on Wednesday, October 11th. Deutsche Bank reiterated a “buy” rating and issued a $67.00 target price on shares of Starbucks in a report on Monday, October 9th. Cowen reiterated a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. Mizuho restated a “buy” rating and set a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Finally, Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price objective for the company. in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.26.
In other news, SVP Paul Mutty sold 3,000 shares of the 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 transaction, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is currently owned by company insiders.
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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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