Comerica Securities Inc. Acquires 346 Shares of Starbucks Corporation (SBUX)
Comerica Securities Inc. boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,694 shares of the coffee company’s stock after acquiring an additional 346 shares during the quarter. Comerica Securities Inc.’s holdings in Starbucks Corporation were worth $1,557,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Jacobi Capital Management LLC lifted its position in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares in the last quarter. Gradient Investments LLC lifted its position in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares in the last quarter. Sharkey Howes & Javer lifted its position in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares in the last quarter. IHT Wealth Management LLC lifted its position in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks Corporation in the 1st quarter valued at about $122,000. 71.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SBUX. Vetr cut shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $63.14 price target on the stock. in a research report on Monday. UBS AG set a $64.00 price target on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley raised their price target on shares of Starbucks Corporation from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Credit Suisse Group reaffirmed a “buy” rating on shares of Starbucks Corporation in a research report on Monday, November 6th. Finally, Deutsche Bank AG dropped their price target on shares of Starbucks Corporation to $62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.27.
In other news, insider Howard D. Schultz sold 290,176 shares of Starbucks Corporation 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 sale, the insider now directly owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of Starbucks Corporation stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold a total of 443,884 shares of company stock valued at $25,041,780 over the last ninety days. 3.40% of the stock is currently owned by insiders.
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Starbucks Corporation (NASDAQ SBUX) opened at $56.93 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market cap of $82,200.00, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation 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 period last year, the firm earned $0.56 EPS. The business’s quarterly revenue was down .2% compared to the same quarter last year. equities research analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.11%. This is an increase from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 60.91%.
About Starbucks Corporation
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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