Starbucks Co. (SBUX) Shares Bought by Confluence Investment Management LLC
Confluence Investment Management LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,138 shares of the coffee company’s stock after acquiring an additional 2,957 shares during the period. Confluence Investment Management LLC’s holdings in Starbucks were worth $42,047,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in SBUX. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Starbucks in the third quarter valued at about $111,000. Jacobi Capital Management LLC lifted its position in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock worth $116,000 after buying an additional 129 shares in the last quarter. Valley National Advisers Inc. lifted its position in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after buying an additional 57 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of Starbucks in the third quarter worth about $131,000. Finally, Aviance Capital Management LLC purchased a new stake in shares of Starbucks in the second quarter worth about $146,000. Institutional investors and hedge funds own 71.87% of the company’s stock.
Shares of Starbucks Co. (SBUX) opened at $54.58 on Monday. 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 stock has a market capitalization of $77,660.00, a P/E ratio of 18.01, a P/E/G ratio of 1.51 and a beta of 0.70. Starbucks Co. has a twelve month low of $52.58 and a twelve month high of $64.87.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.20%. Starbucks’s payout ratio is 39.60%.
SBUX has been the topic of a number of research analyst reports. Nomura decreased their target price on Starbucks from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. Deutsche Bank decreased their target price on Starbucks to $62.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. UBS Group decreased their target price on Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Finally, Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price on the stock. in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $64.63.
In related news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now owns 10,438 shares in the company, valued at $594,444.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clifford Burrows sold 162,826 shares of the business’s 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 owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. Insiders sold 597,668 shares of company stock valued at $34,216,388 in the last quarter. 3.40% of the stock is owned by company insiders.
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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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