South State Corp boosted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 11.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,777 shares of the coffee company’s stock after buying an additional 2,838 shares during the quarter. South State Corp’s holdings in Starbucks Corporation were worth $1,620,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of SBUX. Jacobi Capital Management LLC increased its holdings in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after purchasing an additional 46 shares during the last quarter. Sharkey Howes & Javer grew its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after purchasing an additional 150 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new position in shares of Starbucks Corporation during the first quarter worth about $122,000. 72.01% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 29,872,564 shares of the company’s stock, valued at approximately $1,703,632,324.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 443,884 shares of company stock valued at $25,041,780. Corporate insiders own 3.40% of the company’s stock.
Several equities analysts have issued reports on SBUX shares. Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Cowen and Company reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Friday, July 21st. Wedbush reaffirmed a “neutral” rating and set a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Tuesday, July 25th. Finally, BidaskClub lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Twelve analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.31.
Starbucks Corporation (NASDAQ SBUX) opened at $57.24 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.25. Starbucks Corporation has a 12 month low of $52.58 and a 12 month high of $64.87. The firm has a market cap of $81,171.72, a P/E ratio of 27.39, a PEG ratio of 1.55 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the company posted $0.56 EPS. The company’s revenue was down .2% on a year-over-year basis. research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio (DPR) is 60.91%.
Starbucks Corporation Company Profile
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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