Laffer Investments held its position in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,755 shares of the coffee company’s stock at the close of the second quarter. Starbucks Corporation accounts for 0.7% of Laffer Investments’ investment portfolio, making the stock its 28th largest holding. Laffer Investments’ holdings in Starbucks Corporation were worth $2,785,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Magellan Asset Management Ltd boosted its holdings in shares of Starbucks Corporation 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 valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Starbucks Corporation by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after buying an additional 1,809,166 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Starbucks Corporation by 60.0% in the 2nd quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock valued at $261,014,000 after buying an additional 1,678,506 shares in the last quarter. State Street Corp boosted its holdings in shares of Starbucks Corporation by 2.7% in the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Starbucks Corporation by 679.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,796,830 shares of the coffee company’s stock valued at $104,773,000 after buying an additional 1,566,340 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors and hedge funds.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of Starbucks Corporation stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. Company insiders own 3.40% of the company’s stock.
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Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $57.14 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 12 month low of $52.58 and a 12 month high of $64.87. The company has a market cap of $81,298.80, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. equities research analysts predict that Starbucks Corporation will post 2.31 earnings per share 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.10%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s payout ratio is presently 60.91%.
SBUX has been the topic of a number of recent analyst reports. Stifel Nicolaus cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and lowered their price target for the company from $66.00 to $58.00 in a report on Friday, July 28th. Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Jefferies Group LLC restated an “average” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. Finally, UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $63.31.
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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