Capital Investment Advisors LLC Has $365,000 Stake in Starbucks Corporation (SBUX)
Capital Investment Advisors LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 13.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,263 shares of the coffee company’s stock after purchasing an additional 738 shares during the quarter. Capital Investment Advisors LLC’s holdings in Starbucks Corporation were worth $365,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Jacobi Capital Management LLC grew its holdings in shares of Starbucks Corporation by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares in the last quarter. TrimTabs Asset Management LLC acquired a new stake in shares of Starbucks Corporation during the 1st quarter worth $122,000. Kings Point Capital Management grew its holdings in shares of Starbucks Corporation by 22.5% during the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after purchasing an additional 425 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Starbucks Corporation during the 1st quarter worth $140,000. 70.82% of the stock is currently owned by institutional investors.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. Starbucks Corporation’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 EPS.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction on Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
SBUX has been the topic of several analyst reports. Jefferies Group LLC reissued an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. BidaskClub lowered Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a report on Monday, June 12th. Finally, Vetr upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective for the company in a research report on Thursday, June 8th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus target price of $64.64.
Starbucks Corporation Profile
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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