Budros Ruhlin & Roe Inc. Sells 1,435 Shares of Starbucks Corporation (SBUX)
Budros Ruhlin & Roe Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,948 shares of the coffee company’s stock after selling 1,435 shares during the period. Starbucks Corporation makes up approximately 0.7% of Budros Ruhlin & Roe Inc.’s holdings, making the stock its 17th largest position. Budros Ruhlin & Roe Inc.’s holdings in Starbucks Corporation were worth $2,213,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its holdings in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the last quarter. Gradient Investments LLC raised its holdings in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after acquiring an additional 46 shares during the last quarter. Sharkey Howes & Javer raised its holdings in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after acquiring an additional 150 shares during the last quarter. IHT Wealth Management LLC raised its holdings in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in Starbucks Corporation in the 1st quarter worth approximately $122,000. Institutional investors own 70.87% of the company’s stock.
In related news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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Shares of Starbucks Corporation (NASDAQ SBUX) opened at $56.03 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67. The stock has a market cap of $80,901.72, a PE ratio of 27.07, a PEG ratio of 1.39 and a beta of 0.72. Starbucks Corporation has a 1 year low of $50.84 and a 1 year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 52.65%. The business’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 EPS. sell-side analysts anticipate that Starbucks Corporation will post 2.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.14%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
SBUX has been the subject of a number of recent analyst reports. OTR Global upgraded shares of Starbucks Corporation to a “positive” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Bank of America Corporation reaffirmed a “neutral” rating and issued a $65.00 target price on shares of Starbucks Corporation in a research report on Thursday, September 14th. Cowen and Company reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks Corporation in a research report on Friday, September 1st. Finally, Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $60.00 in a research report on Friday, August 25th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $63.02.
About Starbucks Corporation
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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