Moors & Cabot Inc. Has $2.34 Million Holdings in Starbucks Co. (SBUX)
Moors & Cabot Inc. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 51.9% in the third quarter, Holdings Channel reports. The fund owned 43,458 shares of the coffee company’s stock after acquiring an additional 14,839 shares during the quarter. Moors & Cabot Inc.’s holdings in Starbucks were worth $2,336,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Starbucks in the third quarter valued at approximately $111,000. Jacobi Capital Management LLC raised its position in shares of Starbucks by 6.9% in the second quarter. Jacobi Capital Management LLC now owns 2,007 shares of the coffee company’s stock valued at $116,000 after purchasing an additional 129 shares during the period. Valley National Advisers Inc. raised its position in shares of Starbucks by 2.8% in the second quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after purchasing an additional 57 shares during the period. Horan Capital Advisors LLC. bought a new position in shares of Starbucks in the third quarter valued at approximately $131,000. Finally, Aviance Capital Management LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $146,000. Hedge funds and other institutional investors own 71.87% of the company’s stock.
In other news, SVP Paul Mutty sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the sale, the senior vice president now owns 10,438 shares in the company, valued at approximately $594,444.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard D. Schultz sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $57.28, for a total transaction of $1,432,000.00. Following the completion of the sale, the insider now owns 29,798,282 shares in the company, valued at approximately $1,706,845,592.96. The disclosure for this sale can be found here. Insiders have sold 597,668 shares of company stock worth $34,216,388 in the last quarter. Corporate insiders own 3.40% of the company’s stock.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. equities analysts forecast that Starbucks Co. will post 2.49 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. Starbucks’s dividend payout ratio is currently 39.60%.
A number of brokerages recently issued reports on SBUX. Vetr raised shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $62.03 target price on the stock in a research report on Monday, February 5th. Mizuho lowered shares of Starbucks from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $75.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, January 30th. BidaskClub lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Finally, Sanford C. Bernstein lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and a consensus target price of $64.32.
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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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