Private Wealth Advisors Inc. boosted its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,316 shares of the coffee company’s stock after acquiring an additional 862 shares during the quarter. Private Wealth Advisors Inc.’s holdings in Starbucks Corporation were worth $1,534,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of SBUX. Allegis Investment Advisors LLC lifted its holdings in shares of Starbucks Corporation by 52.1% in the 1st quarter. Allegis Investment Advisors LLC now owns 38,622 shares of the coffee company’s stock worth $2,255,000 after buying an additional 13,225 shares during the period. Lincoln National Corp lifted its holdings in shares of Starbucks Corporation by 29.7% in the 1st quarter. Lincoln National Corp now owns 15,942 shares of the coffee company’s stock worth $931,000 after buying an additional 3,650 shares during the period. Karp Capital Management Corp lifted its holdings in shares of Starbucks Corporation by 2,225.0% in the 1st quarter. Karp Capital Management Corp now owns 737,008 shares of the coffee company’s stock worth $43,034,000 after buying an additional 705,309 shares during the period. TD Asset Management Inc. lifted its holdings in shares of Starbucks Corporation by 9.3% in the 1st quarter. TD Asset Management Inc. now owns 774,915 shares of the coffee company’s stock worth $45,247,000 after buying an additional 66,178 shares during the period. Finally, Ardevora Asset Management LLP lifted its holdings in shares of Starbucks Corporation by 4.2% in the 1st quarter. Ardevora Asset Management LLP now owns 395,800 shares of the coffee company’s stock worth $23,111,000 after buying an additional 16,100 shares during the period. Institutional investors and hedge funds own 72.01% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) opened at $56.64 on Tuesday. The stock has a market capitalization of $81,658.46, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. Starbucks Corporation’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, November 15th. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group decreased their price objective on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Wedbush restated a “neutral” rating and set a $60.00 price objective (down from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $67.00 price objective on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Deutsche Bank AG restated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a research note on Monday, October 9th. Finally, BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.31.
In other news, Director Javier G. Teruel sold 62,966 shares of the firm’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 filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,708 shares of company stock worth $8,322,192. Company insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.