Thompson Davis & CO. Inc. Has $492,000 Position in Starbucks Corporation (SBUX)
Thompson Davis & CO. Inc. lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 455.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,436 shares of the coffee company’s stock after buying an additional 6,916 shares during the quarter. Starbucks Corporation makes up 0.8% of Thompson Davis & CO. Inc.’s holdings, making the stock its 27th largest holding. Thompson Davis & CO. Inc.’s holdings in Starbucks Corporation were worth $492,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Magellan Asset Management Ltd lifted its stake in Starbucks Corporation by 3,809,645.9% in the 1st 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. lifted its stake in Starbucks Corporation by 32.9% in the 1st 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. Principal Financial Group Inc. lifted its stake in Starbucks Corporation by 60.0% in the 2nd 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 in the last quarter. State Street Corp lifted its stake in Starbucks Corporation by 2.7% in the 1st 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. Finally, Polen Capital Management LLC lifted its stake in Starbucks Corporation by 8.3% in the 2nd quarter. Polen Capital Management LLC now owns 11,335,091 shares of the coffee company’s stock worth $660,949,000 after purchasing an additional 870,373 shares in the last quarter. Institutional investors own 72.01% of the company’s stock.
Several brokerages have commented on SBUX. Credit Suisse Group decreased their price target on shares of Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Wedbush restated a “neutral” rating and issued a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $63.31.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.93 on Wednesday. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The firm has a market cap of $81,085.82, a P/E ratio of 27.36, a PEG ratio of 1.55 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The company’s revenue was down .2% compared to the same quarter last year. research analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The firm also recently declared 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 represents a $1.20 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, November 15th. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
In other news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $57.61, for a total value of $3,627,471.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of 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. Insiders sold a total of 150,708 shares of company stock valued at $8,322,192 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.
Starbucks Corporation 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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