Trust Co. of Vermont raised its stake in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 135,585 shares of the coffee company’s stock after acquiring an additional 13,566 shares during the quarter. Trust Co. of Vermont’s holdings in Starbucks were worth $7,787,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. bought a new stake in Starbucks in the 3rd quarter valued at $111,000. Jacobi Capital Management LLC boosted its stake in Starbucks by 6.9% in the 2nd 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. Horan Capital Advisors LLC. bought a new stake in Starbucks in the 3rd quarter valued at $131,000. Front Row Advisors LLC bought a new stake in Starbucks in the 4th quarter valued at $136,000. Finally, Stonehearth Capital Management LLC bought a new stake in Starbucks in the 4th quarter valued at $142,000. Institutional investors own 72.74% of the company’s stock.
Starbucks Co. (SBUX) opened at $58.46 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. Starbucks Co. has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a market capitalization of $83,590.00, a price-to-earnings ratio of 18.68, a PEG ratio of 1.58 and a beta of 0.67.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.05%. Starbucks’s dividend payout ratio (DPR) is currently 38.34%.
In other news, Director Myron E. Ullman III sold 25,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.52, for a total transaction of $1,363,000.00. Following the completion of the transaction, the director now owns 39,000 shares of the company’s stock, valued at approximately $2,126,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clifford Burrows sold 162,826 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $57.02, for a total value of $9,284,338.52. Following the transaction, the insider now directly owns 331,829 shares of the company’s stock, valued at approximately $18,920,889.58. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
SBUX has been the subject of several recent research reports. Vetr upgraded Starbucks from a “buy” rating to a “strong-buy” rating and set a $64.12 price target for the company in a research note on Tuesday, November 14th. Mizuho downgraded Starbucks from a “buy” rating to a “neutral” rating and boosted their price target for the company from $68.00 to $75.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Tigress Financial initiated coverage on Starbucks in a research note on Wednesday, December 27th. They issued a “buy” rating for the company. Wedbush restated a “buy” rating and issued a $70.00 price target on shares of Starbucks in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Oppenheimer restated a “buy” rating and issued a $66.00 price target on shares of Starbucks in a research note on Friday, January 19th. Twelve investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Starbucks has an average rating of “Buy” and an average target price of $64.63.
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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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