North Star Asset Management Inc. bought a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,369 shares of the coffee company’s stock, valued at approximately $255,000.
A number of other hedge funds have also recently modified their holdings of the business. Appropriate Balance Financial Services Inc. raised its stake in shares of Starbucks by 1.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock valued at $14,396,000 after acquiring an additional 13 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Starbucks by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the period. IHT Wealth Management LLC raised its stake in shares of Starbucks by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. Valley National Advisers Inc. raised its stake in shares of Starbucks by 2.8% in the 2nd quarter. Valley National Advisers Inc. now owns 2,089 shares of the coffee company’s stock valued at $122,000 after acquiring an additional 57 shares during the period. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $128,000. 71.07% of the stock is currently owned by institutional investors.
In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the business’s 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 owns 56,666 shares in the company, valued at approximately $3,214,662.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joshua Cooper Ramo sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $59.43, for a total transaction of $3,565,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,808 shares of company stock valued at $28,559,521 in the last quarter. 3.40% of the stock is currently owned by company insiders.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, hitting the 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 during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue was down .2% on a year-over-year basis. equities analysts forecast that Starbucks Corporation will post 2.31 earnings per share 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s payout ratio is 60.91%.
A number of equities research analysts have recently issued reports on SBUX shares. UBS reduced their price target on shares of Starbucks from $67.00 to $64.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Cowen reissued a “buy” rating and issued a $63.00 price target on shares of Starbucks in a research note on Friday, September 1st. Mizuho set a $75.00 price target on shares of Starbucks and gave the company a “buy” rating in a research note on Wednesday, November 1st. Morgan Stanley boosted their price target on shares of Starbucks from $62.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. Finally, Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $60.91 price target on the stock. in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $63.26.
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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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