Catawba Capital Management VA lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,045 shares of the coffee company’s stock after selling 1,570 shares during the period. Catawba Capital Management VA’s holdings in Starbucks were worth $577,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SBUX. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Starbucks in the third quarter worth $111,000. Jacobi Capital Management LLC raised its position in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after buying an additional 129 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after buying an additional 57 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Starbucks in the third quarter worth $131,000. Finally, Stonehearth Capital Management LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $142,000. Institutional investors own 71.87% of the company’s stock.
Starbucks Co. (SBUX) opened at $55.97 on Wednesday. Starbucks Co. has a 12 month low of $52.58 and a 12 month high of $64.87. The stock has a market capitalization of $78,670.00, a PE ratio of 18.78, a PEG ratio of 1.56 and a beta of 0.70. 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 (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.19 billion. During the same period last year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. sell-side analysts anticipate that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. Starbucks’s dividend payout ratio (DPR) is currently 40.27%.
A number of equities research analysts recently issued reports on SBUX shares. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price objective on the stock in a research report on Tuesday, November 14th. Nomura lowered their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Mizuho downgraded Starbucks from a “buy” rating to a “neutral” rating and raised their price target for the company from $68.00 to $75.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial assumed coverage on Starbucks in a research report on Wednesday, December 27th. They set a “buy” rating on the stock. Finally, Wedbush restated a “buy” rating and set 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. Starbucks presently has an average rating of “Buy” and a consensus target price of $64.63.
In related news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’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 sale, the director now directly owns 39,000 shares in the company, valued at $2,126,280. The disclosure for this sale can be found here. Insiders have sold 247,826 shares of company stock worth $14,213,139 over the last ninety days. Insiders own 3.48% of the company’s stock.
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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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