The company also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Helm Lucy Lee retains 157,477 shares in the stock after this transaction.
On December 7, 2016, Starbucks Coffee Company (SBUX) and Tencent Holdings Limited (SEHK:00700), a leading provider of internet value-added services in China, pioneered a strategic partnership to co-create a new social gifting feature on WeChat, China's leading mobile social communications service, in early 2017.
A number of hedge funds have recently added to or reduced their stakes in the stock. Tapping into the 846 million global monthly active user accounts (as of the third quarter of 2016), the new integrated feature will seamlessly allow customers in China to instantly and conveniently gift Starbucks to a friend or loved one.
Following Earnings result, share price were UP 1 times out of last 2 Qtrs. Longbow Research began coverage on shares of Starbucks Corp.in a research report on Wednesday, September 21st. The company's market cap is $21.37 Million, and the average volume is $2.48 Million.
The Stock fell -0.57% and closed its last trading session at $57.11.
Starbucks Corporation has distance from 20-day Simple Moving Average (SMA20) of -1.58%, Distance from 50-Day Simple Moving Average of 3.03 percent and Distance from 200-Day Simple Moving Average of 2.14%. Similarly, the company has Return on Assets of -140.5 percent, Return on Equity of -316 percent and Return on Investment of 0 Percent.
Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh, rich-brewed, Italian style espresso beverages, a variety of pastries and confections, and coffee-related equipments primarily through its company-operated retail stores. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.55 by $0.01.
The mean revenue estimate for the ongoing quarter ending Dec 16 is $5.85B by 25 analysts. Buffington Mohr McNeal now owns 2,142 shares of the coffee company's stock worth $115,000 after buying an additional 17 shares in the last quarter. The low EPS estimate is $0.54, while the high EPS estimate is $0.55.
For the Current Quarter, 1 analyst are projecting the mean EPS to be $-0.07/share.
Starbucks' room for dividend growth is just as evident by looking at the company's dividends paid in the trailing 12 months compared with its free cash flow, or cash from operations less capital expenditures, during this same period. The ex-dividend date of this dividend is Tuesday, November 15th. This is an increase from Starbucks Corp.'s previous quarterly dividend of $0.20.
So Starbucks' 1.8% dividend yield may be unimpressive today. Starbucks Corp.'s dividend payout ratio is now 52.63%. "(SBUX) Stake Boosted by Cullen Frost Bankers Inc." was originally reported by Community Financial News and is the propert of of Community Financial News. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of USA and worldwide trademark and copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2016/12/23/hayek-kallen-investment-management-has-1873000-stake-in-starbucks-corp-sbux/. The rating firm issued a Neutral rating to this company in a research note released on Nov 21, 2016. They now have a Dollars 64 price target on the stock. Analyst's mean target price for WVE is $41.75 while analysts mean recommendation is 1.50. The stock now has a consensus rating of "Buy" and a consensus price target of $63.45. Finally, Cowen and Company reiterated an "outperform" rating and set a $66.00 target price on shares of Starbucks Corp.in a research report on Tuesday, December 6th. Starbucks Corp. now has an average rating of Buy and an average target price of $64.50. The shares were sold at an average price of $58.65, for a total value of $9,900,941.10. Following the transaction, the evp, gen. counsel & secretary is left with a stake of 1717.21 shares, now valued at $98070. Also, insider Clifford Burrows sold 80,000 shares of the business's stock in a transaction dated Thursday, December 8th. Following the transaction, the insider now directly owns 248,517 shares in the company, valued at approximately $14,632,680.96. The disclosure for this sale can be found here.
This partnership positions Starbucks as the first retail brand to combine and bring a locally-relevant social gifting and digital payment experience to life on WeChat in China. Additionally, Starbucks produces and sells bottled Frappuccino coffee drink and a line of premium ice creams through its joint venture partnerships and offers a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company.