Wendell David Associates Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,504 shares of the coffee company’s stock after purchasing an additional 3,770 shares during the quarter. Wendell David Associates Inc.’s holdings in Starbucks were worth $5,237,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Jacobi Capital Management LLC boosted its holdings in Starbucks by 6.9% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after acquiring an additional 129 shares during the period. IHT Wealth Management LLC boosted its holdings in Starbucks by 10.2% during 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 period. Valley National Advisers Inc. boosted its holdings in Starbucks by 2.8% during the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Starbucks during the 2nd quarter valued at about $128,000. Finally, Kings Point Capital Management boosted its holdings in Starbucks by 22.5% during the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock valued at $135,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 71.07% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $58.29 on Monday. 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 Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The firm has a market capitalization of $82,935.02, a PE ratio of 28.16, a PEG ratio of 1.59 and a beta of 0.75.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 60.91%.
In other news, Director Javier G. Teruel sold 62,966 shares of the firm’s stock in a transaction dated 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, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now directly owns 10,438 shares in the company, valued at approximately $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock worth $28,559,521 in the last three months. Corporate insiders own 3.40% of the company’s stock.
A number of brokerages recently commented on SBUX. Credit Suisse Group lowered their target price on Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $67.00 target price on shares of Starbucks in a report on Wednesday, August 23rd. Deutsche Bank restated a “buy” rating and set a $67.00 target price on shares of Starbucks in a report on Monday, October 9th. BMO Capital Markets restated a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. Finally, OTR Global upgraded Starbucks to a “positive” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Starbucks presently has an average rating of “Buy” and an average price target of $63.26.
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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