San Francisco Sentry Investment Group CA trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,100 shares of the coffee company’s stock after selling 831 shares during the period. San Francisco Sentry Investment Group CA’s holdings in Starbucks were worth $1,405,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Jacobi Capital Management LLC boosted its holdings in Starbucks by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC lifted its stake in Starbucks by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in Starbucks in the 2nd quarter worth approximately $128,000. Institutional investors own 71.07% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Morgan Stanley raised their target price on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 target price on the stock. in a research note on Monday, November 13th. UBS set a $64.00 target price on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, Credit Suisse Group reissued a “buy” rating on shares of Starbucks in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.26.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. equities 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 was paid on Friday, December 1st. Investors of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 60.91%.
In other Starbucks news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the transaction, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders sold a total of 502,584 shares of company stock valued at $28,461,828 in the last quarter. 3.40% of the stock is owned by insiders.
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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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