Wealthcare Advisory Partners LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,258 shares of the coffee company’s stock, valued at approximately $175,000.
Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Starbucks in the 3rd quarter valued at $111,000. Jacobi Capital Management LLC lifted its stake in shares of Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the last quarter. Horan Capital Advisors LLC. acquired a new position in shares of Starbucks in the 3rd quarter valued at $131,000. Finally, Aviance Capital Management LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $146,000. Institutional investors own 71.87% of the company’s stock.
Shares of Starbucks Co. (SBUX) opened at $53.77 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81. The stock has a market capitalization of $76,548.98, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.51 and a beta of 0.69. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Wednesday, February 7th. Starbucks’s dividend payout ratio is currently 39.60%.
SBUX has been the topic of several recent analyst reports. Vetr raised Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target on the stock in a research note on Tuesday, November 14th. Nomura decreased their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Mizuho lowered Starbucks from a “buy” rating to a “neutral” rating and upped their price target for the company from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial initiated coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating on the stock. Finally, Wedbush reaffirmed a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $64.32.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of the 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 owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Insiders sold a total of 597,668 shares of company stock worth $34,216,388 in the last ninety days. 3.40% of the stock is owned by corporate insiders.
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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