Starbucks Corporation (SBUX) Holdings Boosted by FCG Advisors LLC
FCG Advisors LLC boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,237 shares of the coffee company’s stock after purchasing an additional 8 shares during the quarter. FCG Advisors LLC’s holdings in Starbucks Corporation were worth $305,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. State Street Corp boosted its position in 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 in the last quarter. Magellan Asset Management Ltd boosted its position in 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 in the last quarter. Ameriprise Financial Inc. boosted its position in 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 in the last quarter. Polen Capital Management LLC boosted its position in Starbucks Corporation by 7.6% during the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock worth $611,035,000 after purchasing an additional 737,343 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Starbucks Corporation by 3.4% during the second quarter. Legal & General Group Plc now owns 6,985,177 shares of the coffee company’s stock worth $407,320,000 after purchasing an additional 229,758 shares in the last quarter. Institutional investors own 72.01% of the company’s stock.
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Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.64 on Tuesday. Starbucks Corporation has a one year low of $52.58 and a one year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $81,658.46, a price-to-earnings ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was down .2% on a year-over-year basis. sell-side analysts predict that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.12%. Starbucks Corporation’s payout ratio is presently 50.76%.
SBUX has been the topic of a number of recent analyst reports. Cowen and Company reiterated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a research report on Friday, July 21st. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.12 price target on the stock in a research report on Tuesday. Nomura lowered their price target on Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Mizuho reiterated a “buy” rating and set a $75.00 price target on shares of Starbucks Corporation in a research report on Friday, September 29th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks Corporation in a research report on Monday, November 6th. Twelve equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus target price of $63.31.
In related news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction on 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 transaction, the director now directly owns 36,966 shares in the company, valued at $1,974,354.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction on 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 transaction, 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. Insiders sold 150,708 shares of company stock valued at $8,322,192 over the last ninety days. Insiders own 3.40% of the company’s stock.
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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