Aries Wealth Management purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,278 shares of the coffee company’s stock, valued at approximately $323,000.
A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Starbucks by 2.1% in the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Capital World Investors lifted its stake in Starbucks by 2.0% in the second quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after acquiring an additional 895,432 shares during the last quarter. Northern Trust Corp lifted its stake in Starbucks by 5.2% in the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Capital International Investors lifted its stake in Starbucks by 28.3% in the third quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock valued at $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Starbucks by 12.8% in the second quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after acquiring an additional 1,809,166 shares during the last quarter. Hedge funds and other institutional investors own 73.63% of the company’s stock.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total value of $9,284,338.52. Following the transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the transaction, 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. 3.48% of the stock is owned by company insiders.
Starbucks Co. (NASDAQ SBUX) opened at $59.05 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a market cap of $83,000.00, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. equities research analysts predict that Starbucks Co. will post 2.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.03%. The ex-dividend date was Wednesday, February 7th. Starbucks’s dividend payout ratio is currently 38.34%.
SBUX has been the topic of several research analyst reports. Vetr lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective on the stock. in a research report on Monday, January 8th. Tigress Financial initiated coverage on shares of Starbucks in a research report on Wednesday, December 27th. They issued a “buy” rating on the stock. Goldman Sachs Group lowered shares of Starbucks from a “conviction-buy” rating to a “buy” rating and dropped their price objective for the company from $73.00 to $68.00 in a research report on Friday, January 26th. William Blair reissued an “outperform” rating on shares of Starbucks in a research report on Friday, January 26th. Finally, Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $64.57.
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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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