Starbucks Co. (SBUX) Position Increased by Wright Investors Service Inc.
Wright Investors Service Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 40.9% during the 4th quarter, Holdings Channel reports. The firm owned 23,944 shares of the coffee company’s stock after purchasing an additional 6,955 shares during the period. Wright Investors Service Inc.’s holdings in Starbucks were worth $1,375,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Oxbow Advisors LLC boosted its holdings in shares of Starbucks by 27.3% during the 4th quarter. Oxbow Advisors LLC now owns 5,359 shares of the coffee company’s stock valued at $308,000 after acquiring an additional 1,149 shares during the last quarter. Fulcrum Capital LLC bought a new position in shares of Starbucks in the 4th quarter worth approximately $5,532,000. Lodestar Investment Counsel LLC IL lifted its stake in shares of Starbucks by 1,140.4% in the 4th quarter. Lodestar Investment Counsel LLC IL now owns 225,215 shares of the coffee company’s stock worth $12,934,000 after purchasing an additional 207,059 shares during the period. Ledyard National Bank lifted its stake in shares of Starbucks by 2.3% in the 4th quarter. Ledyard National Bank now owns 135,394 shares of the coffee company’s stock worth $7,775,000 after purchasing an additional 3,025 shares during the period. Finally, Elite Wealth Management Inc. bought a new position in shares of Starbucks in the 4th quarter worth approximately $282,000. 72.74% of the stock is currently owned by institutional investors.
In other Starbucks news, insider Clifford Burrows sold 162,826 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $57.02, for a total transaction of $9,284,338.52. Following the completion of the sale, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares of the company’s stock, valued at $2,126,280. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,826 shares of company stock valued at $14,213,139. Insiders own 3.48% of the company’s stock.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, January 25th. The coffee company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Starbucks had a net margin of 19.28% and a return on equity of 56.35%. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 5.9% on a year-over-year basis. equities research analysts anticipate that Starbucks Co. will post 2.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio (DPR) is currently 39.60%.
SBUX has been the topic of several recent research reports. Morgan Stanley increased their price objective on shares of Starbucks from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Vetr cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $61.72 price objective on the stock. in a research note on Monday, January 8th. Tigress Financial initiated coverage on shares of Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating on the stock. Goldman Sachs Group cut shares of Starbucks from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the stock from $73.00 to $68.00 in a research note on Friday, January 26th. Finally, William Blair reiterated an “outperform” rating on shares of Starbucks in a research note on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Starbucks has a consensus rating of “Buy” and a consensus target price of $64.63.
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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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