Starbucks Corporation (SBUX) Holdings Cut by Sentry Investment Management LLC
Sentry Investment Management LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,169 shares of the coffee company’s stock after selling 3,041 shares during the period. Sentry Investment Management LLC’s holdings in Starbucks were worth $6,541,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Capital World Investors boosted its stake in shares of Starbucks by 2.0% during the 2nd quarter. Capital World Investors now owns 45,458,682 shares of the coffee company’s stock valued at $2,650,696,000 after purchasing an additional 895,432 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Starbucks by 5.2% during the 2nd quarter. Northern Trust Corp now owns 21,452,905 shares of the coffee company’s stock valued at $1,250,919,000 after purchasing an additional 1,060,298 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in shares of 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 in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of 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 in the last quarter. 71.07% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ SBUX) opened at $59.49 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 stock has a market cap of $84,640.00, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.61 and a beta of 0.76. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87.
Starbucks (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 consensus estimate of $0.55. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. sell-side analysts predict that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were issued a $0.30 dividend. The ex-dividend date was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.02%. Starbucks’s payout ratio is 60.91%.
A number of brokerages have recently weighed in on SBUX. Stephens reaffirmed an “equal weight” rating and set a $52.00 target price (down previously from $58.00) on shares of Starbucks in a research note on Friday, September 29th. They noted that the move was a valuation call. Cleveland Research lowered shares of Starbucks from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 23rd. Credit Suisse Group cut their target price on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Starbucks in a research note on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.26.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.73, for a total value of $3,214,662.18. Following the completion of the transaction, the director now directly owns 56,666 shares of the company’s stock, valued at $3,214,662.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javier G. Teruel sold 62,966 shares of Starbucks stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $57.61, for a total transaction of $3,627,471.26. The disclosure for this sale can be found here. Insiders sold 497,808 shares of company stock valued at $28,559,521 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
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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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