W.G. Shaheen & Associates DBA Whitney & Co Has $3.62 Million Stake in Starbucks Corporation (SBUX)

W.G. Shaheen & Associates DBA Whitney & Co grew its stake in Starbucks Corporation (NASDAQ:SBUX) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,030 shares of the coffee company’s stock after acquiring an additional 1,880 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Starbucks were worth $3,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in Starbucks by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. Gradient Investments LLC grew its holdings in Starbucks 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 period. Sharkey Howes & Javer grew its holdings in Starbucks 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 period. IHT Wealth Management LLC grew its holdings in Starbucks 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 period. Finally, Valley National Advisers Inc. grew its holdings in Starbucks by 2.8% during the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock worth $122,000 after purchasing an additional 57 shares during the period. Institutional investors own 71.49% of the company’s stock.

SBUX has been the subject of a number of research analyst reports. UBS AG reduced their price target on Starbucks from $67.00 to $64.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Cowen Inc reiterated a “buy” rating and set a $63.00 price target on shares of Starbucks in a report on Friday, September 1st. Mizuho set a $75.00 price target on Starbucks and gave the stock a “buy” rating in a report on Wednesday, November 1st. Morgan Stanley lifted their price target on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target for the company. in a report on Thursday, November 2nd. Twelve equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has an average rating of “Buy” and a consensus target price of $63.26.

In other Starbucks news, insider John Culver sold 64,776 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the sale, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction 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 sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 525,550 shares of company stock valued at $29,688,442. Company insiders own 3.40% of the company’s stock.

Starbucks Corporation (NASDAQ SBUX) opened at $56.80 on Monday. Starbucks Corporation has a 1 year low of $52.58 and a 1 year high of $64.87. The company has a market cap of $80,815.04, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. 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 (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks 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 the consensus estimate of $5.81 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The company’s revenue was down .2% on a year-over-year basis. equities research analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be given a dividend of $0.30 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks’s payout ratio is currently 60.91%.

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Starbucks 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.

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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