Adell Harriman & Carpenter Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,892 shares of the coffee company’s stock after selling 5,055 shares during the period. Starbucks comprises 1.4% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 25th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Starbucks were worth $6,483,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jacobi Capital Management LLC raised its position in Starbucks by 6.9% in the 2nd quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Starbucks in the 3rd quarter valued at about $111,000. Front Row Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at about $136,000. Horan Capital Advisors LLC. acquired a new stake in Starbucks in the 3rd quarter valued at about $131,000. Finally, Stonehearth Capital Management LLC acquired a new stake in Starbucks in the 4th quarter valued at about $142,000. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the transaction, the insider now directly owns 331,829 shares in the company, valued at approximately $18,920,889.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total value of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Company insiders own 3.48% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) opened at $59.40 on Tuesday. The stock has a market capitalization of $83,490.00, a P/E ratio of 18.98, a P/E/G ratio of 1.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.81 and a current ratio of 1.01. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. analysts expect 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. Investors of record on Thursday, February 8th were paid 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 yield of 2.02%. Starbucks’s dividend payout ratio is presently 38.34%.
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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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