Polen Capital Management LLC lifted its stake in Starbucks Corporation (NASDAQ:SBUX) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,335,091 shares of the coffee company’s stock after purchasing an additional 870,373 shares during the quarter. Starbucks Corporation comprises about 5.8% of Polen Capital Management LLC’s holdings, making the stock its 8th largest holding. Polen Capital Management LLC owned 0.79% of Starbucks Corporation worth $660,949,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its stake in Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its stake in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC acquired a new stake in shares of Starbucks Corporation in the first quarter valued at $122,000. 72.01% of the stock is owned by hedge funds and other institutional investors.
SBUX has been the subject of a number of research reports. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 21st. Vetr raised Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective for the company in a research note on Tuesday. Nomura dropped their price objective on Starbucks Corporation from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Mizuho reiterated a “buy” rating and issued a $75.00 target price on shares of Starbucks Corporation in a report on Friday, September 29th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks Corporation in a report on Monday, November 6th. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $63.31.
In related news, Director Javier G. Teruel sold 62,966 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the sale, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,708 shares of company stock worth $8,322,192. 3.40% of the stock is owned by corporate insiders.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $56.64 on Tuesday. The company has a market capitalization of $81,658.46, a P/E ratio of 27.56, a PEG ratio of 1.56 and a beta of 0.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. research analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
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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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