USA Mutuals Advisors Inc. acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the coffee company’s stock, valued at approximately $1,149,000. Starbucks makes up approximately 0.6% of USA Mutuals Advisors Inc.’s portfolio, making the stock its 23rd biggest holding.
A number of other institutional investors also recently added to or reduced their stakes in SBUX. First Long Island Investors LLC increased its stake in shares of Starbucks by 89.6% in the fourth quarter. First Long Island Investors LLC now owns 430,433 shares of the coffee company’s stock valued at $24,720,000 after buying an additional 203,384 shares in the last quarter. Legacy Capital Partners Inc. boosted its holdings in Starbucks by 320.9% in the fourth quarter. Legacy Capital Partners Inc. now owns 24,200 shares of the coffee company’s stock valued at $1,390,000 after acquiring an additional 18,450 shares during the last quarter. United Bank boosted its holdings in Starbucks by 5.0% in the fourth quarter. United Bank now owns 23,149 shares of the coffee company’s stock valued at $1,329,000 after acquiring an additional 1,112 shares during the last quarter. Gradient Investments LLC bought a new position in Starbucks in the fourth quarter valued at about $117,000. Finally, Barrett Asset Management LLC boosted its holdings in Starbucks by 28.7% in the fourth quarter. Barrett Asset Management LLC now owns 396,435 shares of the coffee company’s stock valued at $22,767,000 after acquiring an additional 88,420 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.
Several equities analysts recently issued reports on SBUX shares. Vetr cut Starbucks from a “strong-buy” rating to a “buy” rating and set a $63.14 price target on the stock. in a report on Monday, November 20th. Goldman Sachs cut Starbucks from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $73.00 to $68.00 in a report on Friday, January 26th. Wedbush reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Monday, January 22nd. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a report on Friday, January 5th. Finally, Tigress Financial reiterated a “buy” rating on shares of Starbucks in a report on Tuesday, January 2nd. Thirteen equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $64.64.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, January 25th. The coffee company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.19 billion. Starbucks had a return on equity of 56.35% and a net margin of 19.28%. Starbucks’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. research analysts forecast that Starbucks Co. will post 2.49 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, February 7th. Starbucks’s dividend payout ratio is currently 39.60%.
In other news, Director Craig Weatherup sold 59,838 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $60.10, for a total transaction of $3,596,263.80. Following the sale, the director now owns 26,500 shares of the company’s stock, valued at $1,592,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.52, for a total value of $1,363,000.00. Following the sale, the director now directly owns 39,000 shares in the company, valued at approximately $2,126,280. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 247,664 shares of company stock worth $14,243,602. 3.48% of the stock is currently owned by insiders.
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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