Highland Private Wealth Management raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 16.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,319 shares of the coffee company’s stock after buying an additional 3,080 shares during the quarter. Starbucks accounts for 0.6% of Highland Private Wealth Management’s portfolio, making the stock its 25th largest position. Highland Private Wealth Management’s holdings in Starbucks were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Starbucks by 12.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after buying an additional 10,250 shares in the last quarter. Geneva Advisors LLC lifted its stake in Starbucks by 2.3% during the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after buying an additional 63,041 shares in the last quarter. Private Vista LLC lifted its stake in Starbucks by 3,334.9% during the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after buying an additional 213,303 shares in the last quarter. Welch Group LLC purchased a new stake in Starbucks during the second quarter valued at about $406,000. Finally, TrimTabs Asset Management LLC lifted its stake in Starbucks by 104.9% during the second quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock valued at $250,000 after buying an additional 2,199 shares in the last quarter. 71.07% of the stock is owned by institutional investors.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul Mutty sold 3,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock worth $28,559,521 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. analysts expect that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is currently 60.91%.
A number of analysts have commented on SBUX shares. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective for the company in a research note on Tuesday, November 14th. Nomura reduced their price objective on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Mizuho reissued a “buy” rating and issued a $75.00 price target on shares of Starbucks in a research report on Friday, September 29th. Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.26.
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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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