United Services Automobile Association boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the third quarter, Holdings Channel reports. The firm owned 1,009,142 shares of the coffee company’s stock after buying an additional 31,556 shares during the period. United Services Automobile Association’s holdings in Starbucks Corporation were worth $54,635,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. 1ST Source Bank increased its stake in shares of Starbucks Corporation by 1.5% in the second quarter. 1ST Source Bank now owns 51,598 shares of the coffee company’s stock worth $2,947,000 after buying an additional 784 shares during the period. Ausdal Financial Partners Inc. increased its stake in shares of Starbucks Corporation by 25.9% in the second quarter. Ausdal Financial Partners Inc. now owns 6,135 shares of the coffee company’s stock worth $350,000 after buying an additional 1,261 shares during the period. Tradewinds Capital Management LLC increased its stake in shares of Starbucks Corporation by 1.2% in the second quarter. Tradewinds Capital Management LLC now owns 66,633 shares of the coffee company’s stock worth $3,806,000 after buying an additional 818 shares during the period. Alley Co LLC increased its stake in shares of Starbucks Corporation by 2.6% in the second quarter. Alley Co LLC now owns 55,615 shares of the coffee company’s stock worth $3,177,000 after buying an additional 1,390 shares during the period. Finally, Saratoga Research & Investment Management purchased a new stake in shares of Starbucks Corporation during the second quarter worth $473,000. Institutional investors and hedge funds own 68.69% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at 56.22 on Friday. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $61.64. The company has a market cap of $81.94 billion, a P/E ratio of 28.83 and a beta of 0.79. The company’s 50 day moving average price is $56.69 and its 200 day moving average price is $55.71.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.85 billion. Starbucks Corporation had a return on equity of 51.45% and a net margin of 13.30%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts anticipate that Starbucks Corporation will post $2.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, February 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, February 7th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 51.28%.
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A number of equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Starbucks Corporation in a report on Thursday, December 8th. BTIG Research set a $64.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Saturday, December 10th. Wells Fargo & Company restated an “outperform” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, December 9th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, December 9th. Finally, RBC Capital Markets restated an “outperform” rating and set a $64.00 price objective on shares of Starbucks Corporation in a research note on Thursday, December 1st. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.98.
In other news, insider John Culver sold 168,814 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 478,446 shares of the company’s stock, valued at $28,060,857.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clifford Burrows sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $58.88, for a total value of $4,710,400.00. Following the completion of the transaction, the insider now directly owns 248,517 shares in the company, valued at approximately $14,632,680.96. The disclosure for this sale can be found here. Insiders sold 254,682 shares of company stock worth $14,935,431 in the last ninety days. 3.40% of the stock is owned by company 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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