Belpointe Asset Management LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, HoldingsChannel.com reports. The fund purchased 4,482 shares of the coffee company’s stock, valued at approximately $241,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares in the last quarter. Capital World Investors increased its holdings in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares in the last quarter. Capital International Investors increased its holdings in shares of Starbucks by 28.3% during the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after purchasing an additional 4,696,452 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after purchasing an additional 1,809,166 shares in the last quarter. 71.87% of the stock is owned by institutional investors.
Shares of Starbucks Co. (NASDAQ SBUX) opened at $54.58 on Friday. Starbucks Co. has a one year low of $52.58 and a one year high of $64.87. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The stock has a market cap of $78,830.00, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.70.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.20%. Starbucks’s dividend payout ratio (DPR) is presently 39.60%.
Several research firms have recently weighed in on SBUX. Wedbush reaffirmed a “buy” rating and set a $70.00 target price on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reissued a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, January 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a research note on Friday, January 19th. Barclays reissued an “equal weight” rating and issued a $65.00 price target (up previously from $58.00) on shares of Starbucks in a research note on Tuesday, January 16th. Finally, Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $73.00 to $68.00 in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average price target of $64.32.
In other Starbucks news, SVP Paul Mutty sold 3,000 shares of Starbucks stock in a transaction 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 approximately $594,444.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the transaction, the insider now directly owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 597,668 shares of company stock worth $34,216,388. 3.40% of the stock is currently 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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