Starbucks Corporation (SBUX) Position Increased by Lee Capital Management LP
Lee Capital Management LP increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 33.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the coffee company’s stock after acquiring an additional 2,500 shares during the quarter. Lee Capital Management LP’s holdings in Starbucks were worth $583,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Independent Advisor Alliance increased its position in Starbucks by 17.8% in the first quarter. Independent Advisor Alliance now owns 14,742 shares of the coffee company’s stock worth $858,000 after buying an additional 2,231 shares during the last quarter. Premier Asset Managment LLC increased its position in Starbucks by 2.0% in the first quarter. Premier Asset Managment LLC now owns 196,715 shares of the coffee company’s stock worth $11,486,000 after buying an additional 3,800 shares during the last quarter. Cadinha & Co. LLC increased its position in Starbucks by 11.6% in the first quarter. Cadinha & Co. LLC now owns 46,446 shares of the coffee company’s stock worth $2,712,000 after buying an additional 4,845 shares during the last quarter. Northstar Wealth Partners LLC purchased a new stake in Starbucks in the first quarter worth $319,000. Finally, Mason Street Advisors LLC increased its position in Starbucks by 1.2% in the first quarter. Mason Street Advisors LLC now owns 201,402 shares of the coffee company’s stock worth $11,760,000 after buying an additional 2,310 shares during the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at $57.32 on Monday. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. The company has a market capitalization of $81,554.90, a PE ratio of 27.69, a P/E/G ratio of 1.57 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks 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 business earned $0.56 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. equities research analysts predict that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.09%. This is a boost from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. Starbucks’s payout ratio is presently 60.91%.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of Starbucks 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 sale, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. 3.40% of the stock is owned by company insiders.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 target price for the company. in a research report on Monday, November 27th. UBS set a $64.00 target price on Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley raised their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.26.
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Starbucks 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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