QCI Asset Management Inc. NY grew its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,702 shares of the coffee company’s stock after purchasing an additional 3,546 shares during the period. QCI Asset Management Inc. NY’s holdings in Starbucks were worth $13,077,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. acquired a new position in Starbucks during the third quarter worth about $111,000. Jacobi Capital Management LLC grew its holdings in Starbucks by 6.9% during the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after acquiring an additional 129 shares during the period. Horan Capital Advisors LLC. acquired a new position in Starbucks during the third quarter worth about $131,000. Front Row Advisors LLC acquired a new position in Starbucks during the fourth quarter worth about $136,000. Finally, Stonehearth Capital Management LLC acquired a new position in Starbucks during the fourth quarter worth about $142,000. 73.63% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on SBUX shares. Wedbush reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Oppenheimer reiterated a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research report on Friday, January 19th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target (up previously from $66.00) on shares of Starbucks in a research report on Friday, January 19th. Barclays reiterated an “equal weight” rating and issued a $65.00 price target (up previously from $58.00) on shares of Starbucks in a research report on Tuesday, January 16th. Finally, Goldman Sachs Group lowered Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $73.00 to $68.00 in a research report on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $64.57.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. equities analysts predict 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 annualized dividend and a dividend yield of 2.02%. Starbucks’s dividend payout ratio is 38.34%.
In other news, Director Myron E. Ullman III sold 25,000 shares of Starbucks stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the sale, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Clifford Burrows sold 162,826 shares of Starbucks stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the sale, the insider now owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. 3.48% of the stock is owned by insiders.
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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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