Cable Hill Partners LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,721 shares of the coffee company’s stock after buying an additional 180 shares during the period. Cable Hill Partners LLC’s holdings in Starbucks Corporation were worth $304,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Farmers National Bank purchased a new stake in Starbucks Corporation during the second quarter valued at about $101,000. Buffington Mohr McNeal boosted its stake in Starbucks Corporation by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock valued at $115,000 after buying an additional 17 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Starbucks Corporation by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock valued at $128,000 after buying an additional 109 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Starbucks Corporation by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock valued at $143,000 after buying an additional 1,715 shares in the last quarter. Finally, Alpha Windward LLC boosted its stake in Starbucks Corporation by 0.9% in the third quarter. Alpha Windward LLC now owns 2,788 shares of the coffee company’s stock valued at $151,000 after buying an additional 26 shares in the last quarter. 68.49% of the stock is currently owned by institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 56.22 on Monday. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $61.64. The firm has a 50-day moving average of $56.69 and a 200 day moving average of $55.71. The company has a market capitalization of $81.94 billion, a PE ratio of 28.83 and a beta of 0.79.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. The business earned $5.70 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Starbucks Corporation had a return on equity of 51.45% and a net margin of 13.30%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. On average, equities research analysts expect that Starbucks Corporation will post $2.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Thursday, February 9th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.00 annualized dividend and a yield of 1.78%. Starbucks Corporation’s payout ratio is currently 51.28%.
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Several research analysts have recently weighed in on the stock. Vetr lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $62.62 price objective on the stock. in a report on Monday. Stifel Nicolaus set a $60.00 price objective on shares of Starbucks Corporation and gave the stock a “hold” rating in a report on Sunday, December 4th. Bank of America Corporation reiterated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Friday, November 4th. Nomura reiterated a “buy” rating and set a $70.00 price objective on shares of Starbucks Corporation in a report on Thursday, December 1st. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $64.00 price objective on shares of Starbucks Corporation in a report on Thursday, December 1st. Nine investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Starbucks Corporation presently has an average rating of “Buy” and a consensus price target of $63.94.
In other Starbucks Corporation news, insider John Culver sold 168,814 shares of Starbucks Corporation stock in a transaction on Monday, December 12th. The stock was sold at an average price of $58.65, for a total value of $9,900,941.10. Following the completion of the transaction, the insider now directly owns 478,446 shares of the company’s stock, valued at approximately $28,060,857.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joshua Cooper Ramo sold 5,868 shares of Starbucks Corporation stock in a transaction on Tuesday, January 31st. The shares were sold at an average price of $55.23, for a total value of $324,089.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,682 shares of company stock valued at $14,935,431. 3.40% of the stock is currently owned by insiders.
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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