Front Row Advisors LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,360 shares of the coffee company’s stock, valued at approximately $136,000.
Several other large investors also recently bought and sold shares of SBUX. Vanguard Group Inc. boosted its position in Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock worth $5,505,491,000 after acquiring an additional 1,953,003 shares during the last quarter. Capital World Investors lifted its holdings in shares of Starbucks by 2.0% in the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock worth $2,650,696,000 after acquiring an additional 895,432 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Starbucks by 5.2% in the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock worth $1,250,919,000 after acquiring an additional 1,060,298 shares during the last quarter. Capital International Investors lifted its holdings in shares of Starbucks by 28.3% in the 3rd quarter. Capital International Investors now owns 21,269,515 shares of the coffee company’s stock worth $1,142,386,000 after acquiring an additional 4,696,452 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Starbucks by 12.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock worth $931,909,000 after acquiring an additional 1,809,166 shares during the last quarter. Institutional investors and hedge funds own 73.63% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) traded down $0.21 during mid-day trading on Wednesday, reaching $58.84. 4,515,427 shares of the company traded hands, compared to its average volume of 11,321,610. Starbucks Co. has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $83,620.00, a P/E ratio of 18.79, a P/E/G ratio of 1.64 and a beta of 0.67.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $6.19 billion. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. Starbucks’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. sell-side analysts expect that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.04%. Starbucks’s dividend payout ratio is currently 38.34%.
Several equities research analysts recently weighed in on the stock. UBS Group set a $64.00 target price on shares of Starbucks and gave the stock a “buy” rating in a research note on Friday, March 9th. Zacks Investment Research downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Vetr downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $60.26 target price on the stock. in a research report on Monday. BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, BMO Capital Markets increased their price target on shares of Starbucks to $58.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.57.
In other news, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $2,126,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clifford Burrows sold 162,826 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at $18,920,889.58. The disclosure for this sale can be found here. Corporate insiders own 3.48% of the company’s stock.
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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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