Exencial Wealth Advisors LLC Acquires Shares of 64,741 Starbucks Corporation (SBUX)
Exencial Wealth Advisors LLC acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 64,741 shares of the coffee company’s stock, valued at approximately $3,775,000. Starbucks Corporation accounts for approximately 1.5% of Exencial Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding.
A number of other hedge funds have also modified their holdings of SBUX. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Starbucks Corporation by 12.5% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock valued at $5,388,000 after acquiring an additional 10,250 shares in the last quarter. Geneva Advisors LLC boosted its stake in Starbucks Corporation by 2.3% in the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock valued at $160,390,000 after acquiring an additional 63,041 shares in the last quarter. Regent Investment Management LLC boosted its stake in Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after acquiring an additional 300 shares in the last quarter. Private Vista LLC boosted its stake in Starbucks Corporation by 3,334.9% in the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock valued at $160,000 after acquiring an additional 213,303 shares in the last quarter. Finally, Welch Group LLC acquired a new stake in Starbucks Corporation in the second quarter valued at approximately $406,000. 72.01% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the stock. Credit Suisse Group lowered their target price on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Wedbush restated a “neutral” rating and issued a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, October 9th. Finally, BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.31.
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In related news, 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 completion of the sale, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders have sold 150,708 shares of company stock valued at $8,322,192 in the last three months. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $57.04 on Monday. The company has a market cap of $81,658.46, a PE ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.70 billion during 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 53.34%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. research analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The business also recently announced 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. 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%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s payout ratio is currently 50.76%.
Starbucks Corporation 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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