Rafferty Asset Management LLC raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 15.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,778 shares of the coffee company’s stock after buying an additional 3,165 shares during the quarter. Rafferty Asset Management LLC’s holdings in Starbucks Corporation were worth $1,386,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC increased its holdings in Starbucks Corporation by 2.7% during 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 increased its holdings in Starbucks Corporation by 2.5% during 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 increased its holdings in shares of Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in shares of Starbucks Corporation in the 1st quarter valued at approximately $122,000. Institutional investors own 71.49% of the company’s stock.
A number of equities research analysts have recently weighed in on SBUX shares. UBS AG lowered their price target on Starbucks Corporation from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Cowen and Company restated a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a research note on Friday, September 1st. Mizuho set a $75.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley upped their price objective on Starbucks Corporation from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Vetr downgraded Starbucks Corporation 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. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $63.31.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. 3.40% of the stock is owned by corporate insiders.
Starbucks Corporation (SBUX) opened at $57.14 on Thursday. 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 firm has a market capitalization of $81,469.53, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. sell-side analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 annualized dividend and a yield of 2.10%. Starbucks Corporation’s dividend payout ratio is presently 60.91%.
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Starbucks Corporation 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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