Cambridge Trust Co. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 19.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 349,005 shares of the coffee company’s stock after purchasing an additional 57,215 shares during the period. Cambridge Trust Co.’s holdings in Starbucks were worth $20,044,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Pratt Collard Advisory Partners LLC bought a new stake in shares of Starbucks during the fourth quarter worth $508,000. Norris Perne & French LLP MI grew its holdings in shares of Starbucks by 11.6% during the fourth quarter. Norris Perne & French LLP MI now owns 141,835 shares of the coffee company’s stock worth $8,146,000 after purchasing an additional 14,789 shares during the last quarter. Goodwin Daniel L bought a new stake in shares of Starbucks during the fourth quarter worth $201,000. Hennessy Advisors Inc. bought a new stake in shares of Starbucks during the fourth quarter worth $555,000. Finally, Narwhal Capital Management grew its holdings in shares of Starbucks by 66.7% during the fourth quarter. Narwhal Capital Management now owns 37,674 shares of the coffee company’s stock worth $2,164,000 after purchasing an additional 15,079 shares during the last quarter. Institutional investors own 71.87% of the company’s stock.
In other Starbucks news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the sale, the director now owns 39,000 shares of the company’s stock, valued at $2,126,280. The disclosure for this sale can be found here. Insiders sold 247,826 shares of company stock worth $14,213,139 in the last three months. Insiders own 3.40% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) opened at $56.14 on Friday. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $79,960.00, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. equities research analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s payout ratio is 38.34%.
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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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