Russell Investments Group Ltd. Takes Position in Starbucks Corporation (SBUX)
Russell Investments Group Ltd. bought a new stake in Starbucks Corporation (NASDAQ:SBUX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,066,779 shares of the coffee company’s stock, valued at approximately $172,717,000.
Other large investors have also bought and sold shares of the company. Farmers National Bank acquired a new stake in Starbucks Corporation during the second quarter valued at $101,000. Buffington Mohr McNeal boosted its stake in Starbucks Corporation by 0.8% in the third quarter. Buffington Mohr McNeal now owns 2,142 shares of the coffee company’s stock valued at $115,000 after buying an additional 17 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Starbucks Corporation by 186.0% in the third quarter. Cornerstone Advisors Inc. now owns 2,637 shares of the coffee company’s stock valued at $143,000 after buying an additional 1,715 shares during the last quarter. Alpha Windward LLC boosted its stake in Starbucks Corporation by 0.9% in the third quarter. Alpha Windward LLC now owns 2,788 shares of the coffee company’s stock valued at $151,000 after buying an additional 26 shares during the last quarter. Finally, Private Ocean LLC boosted its stake in Starbucks Corporation by 30,000.0% in the third quarter. Private Ocean LLC now owns 3,010 shares of the coffee company’s stock valued at $163,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 68.49% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at 56.73 on Friday. The firm has a market cap of $82.68 billion, a price-to-earnings ratio of 29.09 and a beta of 0.79. The company’s 50-day moving average price is $56.67 and its 200-day moving average price is $55.67. Starbucks Corporation has a one year low of $50.84 and a one year high of $61.64.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, January 26th. The coffee company reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. Starbucks Corporation had a net margin of 13.30% and a return on equity of 51.45%. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corporation will post $2.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, February 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, February 7th. Starbucks Corporation’s dividend payout ratio (DPR) is 51.28%.
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Several research firms recently weighed in on SBUX. Stifel Nicolaus set a $60.00 target price on Starbucks Corporation and gave the stock a “hold” rating in a research note on Sunday, December 4th. Bank of America Corporation restated a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Friday, November 4th. Nomura restated a “buy” rating and set a $70.00 target price on shares of Starbucks Corporation in a research note on Thursday, December 1st. RBC Capital Markets restated an “outperform” rating and set a $64.00 target price on shares of Starbucks Corporation in a research note on Thursday, December 1st. Finally, Piper Jaffray Companies set a $64.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a research note on Saturday, January 28th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $63.94.
In other Starbucks Corporation news, insider Clifford Burrows sold 80,000 shares of the business’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $58.88, for a total transaction of $4,710,400.00. Following the transaction, the insider now owns 248,517 shares in the company, valued at $14,632,680.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Culver sold 168,814 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $58.65, for a total transaction of $9,900,941.10. Following the transaction, the insider now owns 478,446 shares in the company, valued at approximately $28,060,857.90. The disclosure for this sale can be found here. Insiders have sold 254,682 shares of company stock worth $14,935,431 in the last quarter. Company insiders own 3.40% of the company’s stock.
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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