Van ECK Associates Corp Increases Holdings in Starbucks Corporation (SBUX)
Van ECK Associates Corp grew its position in Starbucks Corporation (NASDAQ:SBUX) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 511,621 shares of the coffee company’s stock after acquiring an additional 25,939 shares during the quarter. Van ECK Associates Corp’s holdings in Starbucks Corporation were worth $29,833,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC raised its holdings in shares of Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer increased its holdings in Starbucks Corporation by 8.5% during the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after purchasing an additional 150 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after purchasing an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in Starbucks Corporation during the 1st quarter valued at $122,000. Institutional investors own 71.49% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $57.14 on Friday. 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 firm has a market capitalization of $81,298.80, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its 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. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. equities analysts predict that Starbucks Corporation will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a $0.30 dividend. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 60.91%.
A number of research firms recently weighed in on SBUX. Vetr raised Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.05 price target for the company in a report on Tuesday. UBS AG set a $64.00 price target on Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, November 15th. Morgan Stanley raised their price target on Starbucks Corporation from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Credit Suisse Group reaffirmed a “buy” rating on shares of Starbucks Corporation in a report on Monday, November 6th. Finally, Deutsche Bank AG dropped their price target on Starbucks Corporation to $62.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus price target of $63.31.
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In other Starbucks Corporation news, SVP Paul Mutty sold 3,000 shares of Starbucks Corporation stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of Starbucks Corporation stock in a transaction dated 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 completion of the sale, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders sold a total of 525,550 shares of company stock worth $29,688,442 in the last three months. Company 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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