Marietta Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 23,117 shares of the coffee company’s stock, valued at approximately $1,283,000.
Several other institutional investors also recently modified their holdings of the company. Capital World Investors increased its position in shares of Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock worth $1,878,530,000 after buying an additional 8,071,610 shares during the period. Ameriprise Financial Inc. increased its position in shares of Starbucks by 136.4% in the third quarter. Ameriprise Financial Inc. now owns 10,310,495 shares of the coffee company’s stock worth $558,015,000 after buying an additional 5,949,819 shares during the period. Vontobel Asset Management Inc. increased its position in shares of Starbucks by 744.1% in the third quarter. Vontobel Asset Management Inc. now owns 3,517,590 shares of the coffee company’s stock worth $196,385,000 after buying an additional 3,100,871 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Starbucks during the fourth quarter worth $172,717,000. Finally, Neuberger Berman Group LLC increased its position in shares of Starbucks by 433.2% in the third quarter. Neuberger Berman Group LLC now owns 3,316,604 shares of the coffee company’s stock worth $179,561,000 after buying an additional 2,694,557 shares during the period. 68.49% of the stock is currently owned by institutional investors.
Starbucks Co. (NASDAQ:SBUX) opened at 55.78 on Monday. The company has a market capitalization of $81.29 billion, a PE ratio of 28.61 and a beta of 0.79. Starbucks Co. has a 12 month low of $50.84 and a 12 month high of $61.64. The firm’s 50-day moving average is $55.99 and its 200-day moving average is $55.70.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post $2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Thursday, February 9th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. Starbucks’s payout ratio is currently 51.28%.
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SBUX has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday, January 16th. Instinet reaffirmed a “buy” rating and set a $70.00 price objective on shares of Starbucks in a report on Tuesday, January 3rd. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.53 price objective on the stock in a report on Monday, March 6th. Deutsche Bank AG reaffirmed a “hold” rating and set a $59.00 price objective on shares of Starbucks in a report on Tuesday, December 6th. Finally, OTR Global raised shares of Starbucks to a “positive” rating in a report on Wednesday, January 18th. Eight analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $63.87.
In other news, Director Joshua Cooper Ramo sold 5,868 shares of Starbucks stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $55.23, for a total transaction of $324,089.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by insiders.
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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