Noesis Capital Mangement Corp reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,684 shares of the coffee company’s stock after selling 85 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Starbucks Corporation were worth $331,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Appropriate Balance Financial Services Inc. lifted its holdings in Starbucks Corporation by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares during the last quarter. Jacobi Capital Management LLC lifted its holdings in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the last quarter. Gradient Investments LLC lifted its holdings in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the last quarter. Sharkey Howes & Javer lifted its holdings in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the last quarter. Finally, IHT Wealth Management LLC increased its position in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 72.01% of the company’s stock.
In other news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. In the last three months, insiders sold 150,708 shares of company stock worth $8,322,192. Insiders own 3.40% of the company’s stock.
Several brokerages have commented on SBUX. Credit Suisse Group dropped their price target on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Wedbush reaffirmed a “neutral” rating and issued a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research report on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research report on Monday, October 9th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.31.
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Starbucks Corporation (NASDAQ SBUX) opened at $56.93 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The company has a market capitalization of $81,085.82, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. sell-side analysts expect that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is currently 50.76%.
Starbucks Corporation 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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