Calamos Advisors LLC Acquires 9,226 Shares of Starbucks Co. (SBUX)
Calamos Advisors LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,237,784 shares of the coffee company’s stock after acquiring an additional 9,226 shares during the period. Calamos Advisors LLC owned 0.09% of Starbucks worth $66,481,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Capital World Investors raised its position in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares during the period. Northern Trust Corp raised its position in shares of Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares during the period. Magellan Asset Management Ltd raised its position in shares of Starbucks by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Starbucks by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after purchasing an additional 1,809,166 shares during the period. Institutional investors and hedge funds own 70.67% of the company’s stock.
SBUX has been the topic of several recent analyst reports. OTR Global upgraded shares of Starbucks to a “positive” rating in a research report on Thursday, October 26th. Morgan Stanley raised their price objective on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Bank of America restated a “neutral” rating and set a $65.00 price objective on shares of Starbucks in a research report on Thursday, September 14th. Finally, Cowen restated a “buy” rating and set a $63.00 price objective on shares of Starbucks in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.26.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at $57.30 on Monday. The stock has a market cap of $81,530.00, a PE ratio of 29.09, a PEG ratio of 1.57 and a beta of 0.76. 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 Co. has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the business earned $0.56 EPS. research analysts expect that Starbucks Co. will post 2.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is 60.91%.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the sale, the director now owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. Insiders sold a total of 497,808 shares of company stock valued at $28,559,521 in the last 90 days. Company insiders own 3.40% 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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