Starbucks Corporation (SBUX) Position Maintained by Paradigm Financial Advisors LLC
Paradigm Financial Advisors LLC continued to hold its stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,729 shares of the coffee company’s stock at the end of the second quarter. Paradigm Financial Advisors LLC’s holdings in Starbucks were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Magellan Asset Management Ltd boosted its holdings 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 worth $1,090,000,000 after purchasing an additional 18,667,265 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Starbucks by 3,076.5% during the second quarter. Janus Henderson Group PLC now owns 13,889,820 shares of the coffee company’s stock worth $809,917,000 after purchasing an additional 13,452,551 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Starbucks by 539.2% during the second quarter. Renaissance Technologies LLC now owns 3,918,784 shares of the coffee company’s stock worth $228,504,000 after purchasing an additional 3,305,700 shares during the period. Vanguard Group Inc. boosted its holdings 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 worth $5,505,491,000 after purchasing an additional 1,953,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Starbucks by 3,007.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,904,800 shares of the coffee company’s stock worth $111,069,000 after purchasing an additional 1,843,500 shares during the period. Institutional investors own 71.07% of the company’s stock.
Several research firms recently commented on SBUX. Robert W. Baird decreased their price target on shares of Starbucks from $70.00 to $66.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Mizuho restated a “buy” rating and set a $75.00 price target on shares of Starbucks in a report on Friday, September 29th. Vetr cut shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price target for the company. in a report on Monday, November 13th. Sanford C. Bernstein restated an “outperform” rating and set a $67.00 price target on shares of Starbucks in a report on Wednesday, August 23rd. Finally, Credit Suisse Group decreased their price target on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. 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 stock has a consensus rating of “Buy” and a consensus price target of $63.26.
Starbucks Corporation (SBUX) opened at $59.70 on Friday. Starbucks Corporation has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a market cap of $84,642.38, a P/E ratio of 28.74, a PEG ratio of 1.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a net margin of 12.89% and a return on equity of 53.34%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Thursday, November 16th were given a $0.30 dividend. This is a positive change 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 dividend yield of 2.01%. Starbucks’s dividend payout ratio (DPR) is currently 60.91%.
In other news, Director Joshua Cooper Ramo sold 60,000 shares of Starbucks stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $59.43, for a total value of $3,565,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Craig Weatherup sold 56,666 shares of Starbucks stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $56.73, for a total transaction of $3,214,662.18. Following the completion of the transaction, the director now directly owns 56,666 shares in the company, valued at approximately $3,214,662.18. The disclosure for this sale can be found here. In the last three months, insiders sold 497,808 shares of company stock worth $28,559,521. 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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