Howard Hughes Medical Institute increased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 40.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,977 shares of the coffee company’s stock after purchasing an additional 24,296 shares during the quarter. Starbucks accounts for 0.9% of Howard Hughes Medical Institute’s investment portfolio, making the stock its 27th biggest position. Howard Hughes Medical Institute’s holdings in Starbucks were worth $4,897,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Appropriate Balance Financial Services Inc. increased its position in shares of Starbucks by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Union Bankshares Corp increased its position in shares of Starbucks by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after buying an additional 14 shares during the period. Vaughan David Investments Inc. IL increased its position in shares of Starbucks by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after buying an additional 26 shares during the period. Spectrum Management Group Inc. increased its position in shares of Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after buying an additional 30 shares during the period. Finally, Ingalls & Snyder LLC increased its position in shares of Starbucks by 1.1% during the first quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after buying an additional 40 shares during the period. Institutional investors own 71.07% of the company’s stock.
In other Starbucks news, insider Howard D. Schultz sold 290,176 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the transaction, the insider now owns 29,872,564 shares in the company, valued at $1,703,632,324.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Culver sold 64,776 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 502,584 shares of company stock valued at $28,461,828. 3.40% of the stock is owned by company insiders.
Shares of Starbucks Corporation (SBUX) traded down $0.14 during trading hours on Thursday, hitting $59.14. 6,033,792 shares of the company were exchanged, compared to its average volume of 9,364,394. 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 12-month low of $52.58 and a 12-month high of $64.87. The company has a market capitalization of $84,140.00, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 1.62 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ 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 analyst estimates of $5.81 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were given a dividend of $0.30 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. Starbucks’s dividend payout ratio is currently 60.91%.
Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Vetr lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective on the stock. in a research note on Monday, November 27th. UBS set a $64.00 price objective on shares of Starbucks and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Morgan Stanley boosted their price objective 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. 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 issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $63.26.
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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