Cypress Wealth Services LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,781 shares of the coffee company’s stock, valued at approximately $1,136,000.
Other institutional investors have also bought and sold shares of the company. Middleton & Co Inc MA boosted its stake in Starbucks by 11.8% in the third quarter. Middleton & Co Inc MA now owns 98,873 shares of the coffee company’s stock worth $5,310,000 after purchasing an additional 10,458 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Starbucks by 29.7% in the second quarter. WINTON GROUP Ltd now owns 27,191 shares of the coffee company’s stock worth $1,586,000 after purchasing an additional 6,225 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after acquiring an additional 13,452,551 shares during the last quarter. Honeywell International Inc. raised its position in shares of Starbucks by 11.9% during the third quarter. Honeywell International Inc. now owns 709,062 shares of the coffee company’s stock worth $38,084,000 after acquiring an additional 75,400 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Starbucks by 7.8% during the third quarter. Handelsbanken Fonder AB now owns 275,000 shares of the coffee company’s stock worth $14,770,000 after acquiring an additional 20,000 shares during the last quarter. 73.63% of the stock is currently owned by institutional investors.
In other Starbucks news, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the business’s 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 completion of the transaction, 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. 3.48% of the stock is currently owned by insiders.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $6.19 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. equities research analysts predict that Starbucks Co. will post 2.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a $0.30 dividend. 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 2.03%. Starbucks’s payout ratio is 38.34%.
A number of equities research analysts have recently weighed in on SBUX shares. Zacks Investment Research downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer restated a “buy” rating and set a $66.00 target price on shares of Starbucks in a research report on Friday, January 19th. Wedbush restated a “buy” rating and set a $70.00 target price on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price (up previously from $66.00) on shares of Starbucks in a research report on Friday, January 19th. Finally, William Blair restated an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $64.57.
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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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