Starbucks Corporation (SBUX) Stake Increased by Godsey & Gibb Associates
Godsey & Gibb Associates lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,969 shares of the coffee company’s stock after acquiring an additional 3,840 shares during the quarter. Starbucks Corporation comprises approximately 2.5% of Godsey & Gibb Associates’ holdings, making the stock its 18th largest position. Godsey & Gibb Associates’ holdings in Starbucks Corporation were worth $14,284,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Starbucks Corporation by 2.7% during the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares during the period. Magellan Asset Management Ltd boosted its stake in Starbucks Corporation by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Ameriprise Financial Inc. boosted its stake in Starbucks Corporation by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after purchasing an additional 1,809,166 shares during the period. Polen Capital Management LLC boosted its stake in Starbucks Corporation by 8.3% during the 2nd quarter. Polen Capital Management LLC now owns 11,335,091 shares of the coffee company’s stock valued at $660,949,000 after purchasing an additional 870,373 shares during the period. Finally, Legal & General Group Plc boosted its stake in Starbucks Corporation by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 6,985,177 shares of the coffee company’s stock valued at $407,320,000 after purchasing an additional 229,758 shares during the period. Institutional investors own 71.49% of the company’s stock.
Starbucks Corporation (SBUX) opened at $57.14 on Thursday. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $81,469.53, a P/E ratio of 27.66, a PEG ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (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 business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the prior year, the firm posted $0.56 EPS. Starbucks Corporation’s quarterly revenue was down .2% compared to the same quarter last year. research analysts predict that Starbucks Corporation will post 2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 dividend yield of 2.10%. Starbucks Corporation’s dividend payout ratio is presently 60.91%.
Several analysts recently weighed in on the company. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.05 target price for the company in a research note on Tuesday. UBS AG set a $64.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday, November 15th. Morgan Stanley increased their target price on Starbucks Corporation from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Credit Suisse Group restated a “buy” rating on shares of Starbucks Corporation in a research note on Monday, November 6th. Finally, Deutsche Bank AG decreased their target price on Starbucks Corporation to $62.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Twelve research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $63.31.
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In related news, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $56.95, for a total transaction of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at approximately $594,444.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. Insiders have sold a total of 525,550 shares of company stock valued at $29,688,442 over the last ninety days. Insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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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