Butensky & Cohen Financial Security Inc. lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,245 shares of the coffee company’s stock after purchasing an additional 1,095 shares during the period. Starbucks comprises about 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 26th largest holding. Butensky & Cohen Financial Security Inc.’s holdings in Starbucks were worth $2,024,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Starbucks in the third quarter valued at approximately $111,000. Jacobi Capital Management LLC increased its holdings in Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after buying an additional 129 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after buying an additional 57 shares during the last quarter. Horan Capital Advisors LLC. acquired a new position in Starbucks in the third quarter valued at $131,000. Finally, Stonehearth Capital Management LLC acquired a new position in Starbucks in the fourth quarter valued at $142,000. Hedge funds and other institutional investors own 73.63% of the company’s stock.
Shares of Starbucks Co. (NASDAQ:SBUX) traded down $0.22 during trading hours on Wednesday, hitting $58.83. 6,490,000 shares of the stock were exchanged, compared to its average volume of 11,650,000. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The firm has a market cap of $82,690.00, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.64 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. equities analysts forecast that Starbucks Co. will post 2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.04%. Starbucks’s dividend payout ratio is currently 38.34%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Oppenheimer restated a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a research report on Friday, January 19th. Wedbush reissued a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective (up from $66.00) on shares of Starbucks in a research note on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. Thirteen research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.57.
In other Starbucks news, Director Craig Weatherup sold 59,838 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $60.10, for a total value of $3,596,263.80. Following the completion of the sale, the director now directly owns 26,500 shares of the company’s stock, valued at $1,592,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,664 shares of company stock worth $14,243,602. Company insiders own 3.48% of the company’s stock.
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Starbucks 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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