Stralem & Co. Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 348,915 shares of the coffee company’s stock after selling 1,105 shares during the period. Starbucks comprises approximately 3.4% of Stralem & Co. Inc.’s investment portfolio, making the stock its 8th biggest holding. Stralem & Co. Inc.’s holdings in Starbucks were worth $20,038,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SBUX. Sumitomo Mitsui Financial Group Inc. purchased a new position in Starbucks during the third quarter valued at approximately $111,000. Jacobi Capital Management LLC grew its holdings in 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 purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. grew its holdings in 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 purchasing an additional 57 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in Starbucks in the third quarter worth $131,000. Finally, Stonehearth Capital Management LLC purchased a new position in Starbucks in the fourth quarter worth $142,000. 71.92% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The disclosure for this sale can be found here. Insiders have sold 329,492 shares of company stock valued at $18,859,801 in the last three months. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Co. (SBUX) opened at $56.48 on Friday. The company has a market cap of $79,390.00, a PE ratio of 18.95, a PEG ratio of 1.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. research analysts forecast that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. Starbucks’s dividend payout ratio is currently 40.27%.
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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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