Epoch Investment Partners Inc. Has $2,695,000 Stake in Starbucks Corporation (SBUX)
Epoch Investment Partners Inc. continued to hold its stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,212 shares of the coffee company’s stock at the close of the second quarter. Epoch Investment Partners Inc.’s holdings in Starbucks were worth $2,695,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Starbucks by 2.1% during the second quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after buying an additional 1,953,003 shares during the period. State Street Corp increased its stake in shares of Starbucks by 2.7% during the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the period. Northern Trust Corp increased its stake in shares of Starbucks by 5.2% during the second quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after buying an additional 1,060,298 shares during the period. Magellan Asset Management Ltd increased its stake in shares of Starbucks by 3,809,645.9% during the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Starbucks by 12.8% during the second quarter. Ameriprise Financial Inc. now owns 15,980,105 shares of the coffee company’s stock valued at $931,909,000 after buying an additional 1,809,166 shares during the period. Hedge funds and other institutional investors own 71.16% of the company’s stock.
Shares of Starbucks Corporation (SBUX) opened at $57.51 on Thursday. 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 firm has a market capitalization of $80,615.85, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.55 and a beta of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. sell-side analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.
In other Starbucks news, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Craig Weatherup sold 56,666 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the sale, the director now directly owns 56,666 shares of the company’s stock, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last three months, insiders sold 525,550 shares of company stock valued at $29,688,442. Corporate insiders own 3.40% of the company’s stock.
Several brokerages have recently commented on SBUX. Credit Suisse Group cut their price target on Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Starbucks in a research report on Wednesday, August 23rd. Deutsche Bank reaffirmed a “buy” rating and set a $67.00 price objective on shares of Starbucks in a research report on Monday, October 9th. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a research report on Thursday, October 5th. Finally, OTR Global raised Starbucks to a “positive” rating in a research report on Thursday, October 26th. Twelve investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Starbucks currently has an average rating of “Buy” and a consensus target price of $63.26.
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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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