Auxier Asset Management Has $411,000 Position in Starbucks Corporation (SBUX)
Auxier Asset Management maintained its position in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,054 shares of the coffee company’s stock at the end of the 2nd quarter. Auxier Asset Management’s holdings in Starbucks were worth $411,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Starbucks by 12.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 92,401 shares of the coffee company’s stock worth $5,388,000 after acquiring an additional 10,250 shares in the last quarter. Geneva Advisors LLC lifted its position in shares of Starbucks by 2.3% during the second quarter. Geneva Advisors LLC now owns 2,750,639 shares of the coffee company’s stock worth $160,390,000 after acquiring an additional 63,041 shares in the last quarter. Private Vista LLC lifted its position in shares of Starbucks by 3,334.9% during the second quarter. Private Vista LLC now owns 219,699 shares of the coffee company’s stock worth $160,000 after acquiring an additional 213,303 shares in the last quarter. Welch Group LLC purchased a new stake in shares of Starbucks during the second quarter worth $406,000. Finally, TrimTabs Asset Management LLC lifted its position in shares of Starbucks by 104.9% during the second quarter. TrimTabs Asset Management LLC now owns 4,296 shares of the coffee company’s stock worth $250,000 after acquiring an additional 2,199 shares in the last quarter. Hedge funds and other institutional investors own 71.07% of the company’s stock.
In other news, insider Howard D. Schultz sold 290,176 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the transaction, the insider now directly owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul Mutty sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the transaction, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold 497,808 shares of company stock worth $28,559,521 in the last 90 days. Company insiders own 3.40% of the company’s stock.
Several research firms have issued reports on SBUX. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Vetr downgraded Starbucks from a “strong-buy” rating to a “buy” rating and set a $62.86 price objective on the stock. in a research report on Monday, November 27th. UBS set a $64.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Morgan Stanley increased their price objective on Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Starbucks in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.26.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at $59.27 on Wednesday. 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 quick ratio of 0.93 and a current ratio of 1.25. The firm has a market capitalization of $83,970.00, a PE ratio of 28.31, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share 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 business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’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 fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a dividend of $0.30 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. Starbucks’s dividend payout ratio (DPR) is presently 60.91%.
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Starbucks 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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