Simmons Bank Takes Position in Starbucks Corporation (SBUX)
Simmons Bank purchased a new position in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,235 shares of the coffee company’s stock, valued at approximately $830,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in Starbucks by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the period. IHT Wealth Management LLC lifted its stake in Starbucks by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the period. Valley National Advisers Inc. lifted its stake in Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after acquiring an additional 57 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in Starbucks in the second quarter worth about $128,000. Finally, Kings Point Capital Management lifted its stake in Starbucks by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 71.07% of the company’s stock.
In related news, Director Craig Weatherup sold 56,666 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the transaction, the director now owns 56,666 shares in the company, valued at approximately $3,214,662.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Javier G. Teruel sold 62,966 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was 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. In the last quarter, insiders sold 497,808 shares of company stock worth $28,559,521. 3.40% of the stock is owned by corporate insiders.
Starbucks Corporation (NASDAQ:SBUX) opened at $58.61 on Friday. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. 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 firm has a market cap of $84,343.59, a P/E ratio of 28.64, a P/E/G ratio of 1.62 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results 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 had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. Starbucks’s quarterly revenue was down .2% on a year-over-year basis. analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is 60.91%.
SBUX has been the subject of a number of research reports. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective for the company in a research note on Tuesday, November 14th. Nomura lowered their price objective on shares of Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Mizuho reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Starbucks in a research note on Friday, September 29th. Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. Finally, Zacks Investment Research raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.26.
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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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