NBT Bank N A NY Maintains Holdings in Starbucks Corporation (SBUX)
NBT Bank N A NY held its position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,694 shares of the coffee company’s stock at the end of the 2nd quarter. NBT Bank N A NY’s holdings in Starbucks Corporation were worth $215,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Magellan Asset Management Ltd increased its stake in shares of Starbucks Corporation by 3,809,645.9% during 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 period. Ameriprise Financial Inc. increased its stake in shares of Starbucks Corporation by 32.9% during the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after purchasing an additional 3,511,080 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Starbucks Corporation by 7.8% during the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after purchasing an additional 2,234,324 shares during the period. Principal Financial Group Inc. increased its stake in shares of Starbucks Corporation by 60.0% during the second quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock worth $261,014,000 after purchasing an additional 1,678,506 shares during the period. Finally, State Street Corp increased its stake in shares of Starbucks Corporation by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Institutional investors own 70.87% of the company’s stock.
In other news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total value 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 $20,898,857.14. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $56.03 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $79,226.79, a price-to-earnings ratio of 26.51, a PEG ratio of 1.36 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.65% and a net margin of 12.89%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company posted $0.56 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. equities analysts anticipate that Starbucks Corporation will post 2.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.14%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
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A number of equities analysts have recently weighed in on the company. Credit Suisse Group lowered their target price on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday. Wedbush reissued a “neutral” rating and set a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Wednesday, August 23rd. Deutsche Bank AG reissued a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Monday, October 9th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Thirteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks Corporation presently has an average rating of “Buy” and an average target price of $63.20.
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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