Shelton Capital Management Has $7.31 Million Position in Starbucks Corporation (SBUX)
Shelton Capital Management cut its position in Starbucks Corporation (NASDAQ:SBUX) by 38.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,363 shares of the coffee company’s stock after selling 76,828 shares during the quarter. Shelton Capital Management’s holdings in Starbucks were worth $7,310,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd lifted its holdings in Starbucks 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 last quarter. Renaissance Technologies LLC lifted its holdings in Starbucks by 539.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock valued at $228,504,000 after purchasing an additional 3,305,700 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Starbucks by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 94,417,613 shares of the coffee company’s stock valued at $5,505,491,000 after purchasing an additional 1,953,003 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Starbucks 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 last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Starbucks by 60.0% during the 2nd quarter. Principal Financial Group Inc. now owns 4,476,324 shares of the coffee company’s stock valued at $261,014,000 after purchasing an additional 1,678,506 shares during the last quarter. 71.07% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on SBUX shares. Cowen reaffirmed a “buy” rating and set a $63.00 price target on shares of Starbucks in a report on Friday, September 1st. Mizuho reissued a “buy” rating and set a $75.00 target price on shares of Starbucks in a report on Friday, September 29th. Deutsche Bank reissued a “buy” rating and set a $67.00 target price on shares of Starbucks in a report on Monday, October 9th. Piper Jaffray Companies set a $70.00 target price on Starbucks and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 target price for the company. in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Starbucks has an average rating of “Buy” and a consensus price target of $63.26.
Starbucks Corporation (NASDAQ:SBUX) opened at $59.28 on Thursday. Starbucks Corporation has a 12-month low of $52.58 and a 12-month high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93. The stock has a market capitalization of $84,428.95, a PE ratio of 28.67, a price-to-earnings-growth ratio of 1.62 and a beta of 0.75.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. equities research analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is currently 60.91%.
In other news, insider Howard D. Schultz sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the sale, the insider now directly owns 29,798,282 shares in the company, valued at $1,706,845,592.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Javier G. Teruel sold 62,966 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total value of $3,627,471.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 502,584 shares of company stock worth $28,461,828. Company insiders own 3.40% of the company’s stock.
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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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