Starbucks Corporation (SBUX) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. increased its position in Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 283,484 shares of the coffee company’s stock after purchasing an additional 2,011 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Starbucks were worth $16,528,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Appropriate Balance Financial Services Inc. raised its stake in Starbucks by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after buying an additional 13 shares during the last quarter. Union Bankshares Corp raised its stake in 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 last quarter. Ken Stern & Associates Inc. raised its stake in Starbucks by 0.4% during the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock valued at $330,000 after buying an additional 23 shares during the last quarter. Vaughan David Investments Inc. IL raised its stake in 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 last quarter. Finally, Spectrum Management Group Inc. raised its stake in 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 last quarter. Institutional investors own 71.07% of the company’s stock.
In other news, insider John Culver sold 64,776 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the transaction, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold 502,584 shares of company stock valued at $28,461,828 in the last three months. 3.40% of the stock is currently owned by corporate insiders.
A number of research firms have commented on SBUX. UBS reduced their target price on Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Cowen reissued a “buy” rating and issued a $63.00 target price on shares of Starbucks in a report on Friday, September 1st. Mizuho set a $75.00 target price on Starbucks and gave the stock a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley lifted their target price on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $63.26.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at $59.28 on Thursday. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $84,428.95, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.62 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts expect that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is currently 60.91%.
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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