Starbucks Corporation (SBUX) Shares Sold by Johnson Financial Group Inc.
Johnson Financial Group Inc. decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 42.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,670 shares of the coffee company’s stock after selling 4,159 shares during the quarter. Johnson Financial Group Inc.’s holdings in Starbucks Corporation were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Jacobi Capital Management LLC raised 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 worth $109,000 after purchasing an additional 50 shares in the last quarter. Gradient Investments LLC raised its holdings in Starbucks Corporation by 2.5% in 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 in the last quarter. Sharkey Howes & Javer raised its holdings in Starbucks Corporation by 8.5% in 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 in the last quarter. IHT Wealth Management LLC raised its holdings in Starbucks Corporation by 10.2% in 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 in the last quarter. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks Corporation in the first quarter worth $122,000. 72.01% of the stock is owned by institutional investors.
In related news, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,708 shares of company stock worth $8,322,192. 3.40% of the stock is owned by insiders.
A number of equities analysts have issued reports on the company. Credit Suisse Group decreased their price objective on Starbucks Corporation from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wedbush reiterated a “neutral” rating and issued 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 reiterated an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG reiterated a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, October 9th. Finally, BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Twelve research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $63.31.
Starbucks Corporation (NASDAQ:SBUX) opened at $56.64 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a market capitalization of $81,658.46, a P/E ratio of 27.56, a P/E/G ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 53.34% and a net margin of 12.89%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm earned $0.56 EPS. The firm’s revenue was down .2% compared to the same quarter last year. analysts anticipate that Starbucks Corporation will post 2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Starbucks Corporation’s payout ratio is currently 50.76%.
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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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