Linscomb & Williams Inc. Has $542,000 Holdings in Starbucks Corporation (SBUX)
Linscomb & Williams Inc. cut its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,295 shares of the coffee company’s stock after selling 140 shares during the period. Linscomb & Williams Inc.’s holdings in Starbucks were worth $542,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Northstar Wealth Partners LLC purchased a new position in shares of Starbucks during the first quarter worth about $319,000. Mason Street Advisors LLC grew its holdings in shares of Starbucks by 1.2% during the first quarter. Mason Street Advisors LLC now owns 201,402 shares of the coffee company’s stock worth $11,760,000 after purchasing an additional 2,310 shares during the last quarter. Hanson McClain Inc. grew its holdings in shares of Starbucks by 21.2% during the first quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock worth $175,000 after purchasing an additional 523 shares during the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Starbucks by 19.0% during the first quarter. Greenwood Capital Associates LLC now owns 82,478 shares of the coffee company’s stock worth $4,816,000 after purchasing an additional 13,170 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Starbucks by 6.6% during the first quarter. Pacer Advisors Inc. now owns 45,252 shares of the coffee company’s stock worth $2,642,000 after purchasing an additional 2,813 shares during the last quarter. Institutional investors own 71.07% of the company’s stock.
In related news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 497,808 shares of company stock valued at $28,559,521. 3.40% of the stock is owned by insiders.
Shares of Starbucks Corporation (SBUX) opened at $59.07 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The company has a market cap of $83,390.31, a PE ratio of 28.31, a P/E/G ratio of 1.60 and a beta of 0.75. Starbucks Corporation has a 12-month low of $52.58 and a 12-month high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm 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 revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors 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 yield of 2.03%. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
Several equities analysts have issued reports on the company. Stephens reaffirmed an “equal weight” rating and set a $52.00 price objective (down previously from $58.00) on shares of Starbucks in a report on Friday, September 29th. They noted that the move was a valuation call. Cleveland Research lowered Starbucks from a “buy” rating to a “neutral” rating in a report on Wednesday, August 23rd. Credit Suisse Group dropped their price objective on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a report on Thursday, October 5th. Finally, Zacks Investment Research raised Starbucks from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $63.26.
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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