Dearborn Partners LLC Grows Holdings in Starbucks Corporation (SBUX)
Dearborn Partners LLC grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,584 shares of the coffee company’s stock after buying an additional 24,807 shares during the period. Dearborn Partners LLC’s holdings in Starbucks Corporation were worth $19,276,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Jacobi Capital Management LLC boosted its stake in shares of Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after purchasing an additional 50 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after purchasing an additional 46 shares in the last quarter. Sharkey Howes & Javer boosted its stake in shares of Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Starbucks Corporation in the 1st quarter valued at $122,000. 70.83% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on SBUX. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Cowen and Company reiterated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a report on Friday, July 21st. Wedbush reiterated a “neutral” rating and set a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Twelve research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Starbucks Corporation has an average rating of “Buy” and an average target price of $63.31.
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In other news, insider John Culver sold 64,776 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 150,708 shares of company stock worth $8,322,192 in the last 90 days. Insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $57.04 on Friday. The company has a market cap of $82,116.58, a PE ratio of 27.71, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. equities analysts predict that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. Starbucks Corporation’s payout ratio is presently 50.76%.
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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