Coldstream Capital Management Inc. Has $11.99 Million Holdings in Starbucks Corporation (SBUX)
Coldstream Capital Management Inc. grew its position in Starbucks Corporation (NASDAQ:SBUX) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 205,569 shares of the coffee company’s stock after purchasing an additional 9,361 shares during the quarter. Starbucks comprises approximately 1.5% of Coldstream Capital Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Coldstream Capital Management Inc.’s holdings in Starbucks were worth $11,987,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd grew its holdings in Starbucks by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after purchasing an additional 18,667,265 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Starbucks by 3,076.5% in the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Starbucks by 539.2% in the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after purchasing an additional 3,305,700 shares during the last quarter. Vanguard Group Inc. grew its holdings in Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Starbucks by 3,007.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock worth $111,069,000 after purchasing an additional 1,843,500 shares during the last quarter. 71.07% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective on the stock. in a report on Monday, November 27th. UBS set a $64.00 price objective on shares of Starbucks and gave the company a “buy” rating in a report on Wednesday, November 15th. Morgan Stanley boosted their price objective on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $63.26.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 497,808 shares of company stock valued at $28,559,521. Insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $58.61 on Friday. The stock has a market cap of $84,144.39, a price-to-earnings ratio of 28.57, a P/E/G ratio of 1.62 and a beta of 0.75. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. equities analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a $0.30 dividend. The ex-dividend date was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is 60.91%.
Starbucks Company 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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