Hutchens Investment Management Inc Buys 1,397 Shares of Starbucks Co. (SBUX)
Hutchens Investment Management Inc boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,213 shares of the coffee company’s stock after purchasing an additional 1,397 shares during the quarter. Starbucks makes up 2.0% of Hutchens Investment Management Inc’s portfolio, making the stock its 21st largest position. Hutchens Investment Management Inc’s holdings in Starbucks were worth $2,079,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Starbucks in the 3rd quarter worth $111,000. Jacobi Capital Management LLC increased its stake in Starbucks by 6.9% in the 2nd 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. increased its stake in Starbucks by 2.8% in the 2nd 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 Starbucks in the 3rd quarter worth $131,000. Finally, Aviance Capital Management LLC purchased a new stake in Starbucks in the 2nd quarter worth $146,000. Institutional investors and hedge funds own 71.92% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) opened at $55.38 on Tuesday. The company has a market capitalization of $78,790.00, a PE ratio of 18.28, a P/E/G ratio of 1.51 and a beta of 0.70. Starbucks Co. has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.01 and a quick ratio of 0.81.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, February 8th will be given a $0.30 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $1.20 annualized dividend and a yield of 2.17%. Starbucks’s dividend payout ratio is currently 39.60%.
SBUX has been the subject of a number of analyst reports. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target for the company in a research note on Tuesday, November 14th. Nomura cut their price target on Starbucks from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Mizuho lowered Starbucks from a “buy” rating to a “neutral” rating and increased their price target for the stock from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial started coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating for the company. Finally, Wedbush restated a “buy” rating and set a $70.00 price objective on shares of Starbucks in a research report on Monday, January 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and a consensus price target of $64.63.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value 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 $3,214,662.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction 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 approximately $2,126,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 619,668 shares of company stock valued at $35,408,538. 3.48% of the stock is currently 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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