Sii Investments Inc. WI cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,037 shares of the coffee company’s stock after selling 764 shares during the period. Sii Investments Inc. WI’s holdings in Starbucks were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of SBUX. Northstar Wealth Partners LLC purchased a new position in Starbucks during the 1st quarter worth $319,000. Mason Street Advisors LLC increased its holdings in Starbucks by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 201,402 shares of the coffee company’s stock worth $11,760,000 after purchasing an additional 2,310 shares during the period. Hanson McClain Inc. increased its holdings in Starbucks by 21.2% during the 1st quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock worth $175,000 after purchasing an additional 523 shares during the period. Greenwood Capital Associates LLC increased its holdings in Starbucks by 19.0% during the 1st quarter. Greenwood Capital Associates LLC now owns 82,478 shares of the coffee company’s stock worth $4,816,000 after purchasing an additional 13,170 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Starbucks by 6.6% during the 1st quarter. Pacer Advisors Inc. now owns 45,252 shares of the coffee company’s stock valued at $2,642,000 after acquiring an additional 2,813 shares in the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.
Several analysts have issued reports on the company. BMO Capital Markets cut Starbucks from an “outperform” rating to a “market perform” rating and increased their target price for the company from $54.52 to $64.00 in a research report on Wednesday, August 9th. Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 target price on the stock. in a research report on Monday, November 27th. Zacks Investment Research cut Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Robert W. Baird dropped their target price on Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Finally, Mizuho reissued a “buy” rating and issued a $75.00 price objective on shares of Starbucks in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $63.26.
Starbucks Corporation (NASDAQ:SBUX) opened at $59.34 on Wednesday. The firm has a market capitalization of $83,603.73, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.61 and a beta of 0.75. Starbucks Corporation has a 52 week low of $52.58 and a 52 week high of $64.87. 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 (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. equities research analysts expect that Starbucks Corporation will post 2.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
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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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