Asset Management One Co. Ltd. lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,350,662 shares of the coffee company’s stock after selling 198,660 shares during the period. Asset Management One Co. Ltd. owned 0.16% of Starbucks Corporation worth $137,215,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Regent Investment Management LLC purchased a new position in shares of Starbucks Corporation during the first quarter worth about $256,000. Zevin Asset Management LLC increased its position in shares of Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares during the last quarter. Sawtooth Solutions LLC increased its position in shares of Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares during the last quarter. Baystate Wealth Management LLC increased its position in shares of Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock worth $219,000 after buying an additional 1,212 shares during the last quarter. Finally, Girard Partners LTD. increased its position in shares of Starbucks Corporation by 23.7% in the first quarter. Girard Partners LTD. now owns 53,820 shares of the coffee company’s stock worth $3,143,000 after buying an additional 10,311 shares during the last quarter. 69.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (SBUX) opened at 55.63 on Tuesday. The company has a 50-day moving average of $58.47 and a 200 day moving average of $58.49. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a market cap of $80.32 billion, a price-to-earnings ratio of 28.08 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Starbucks Corporation will post $2.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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A number of brokerages have recently issued reports on SBUX. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus raised shares of Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Guggenheim downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $64.00 price objective (down previously from $67.00) on shares of Starbucks Corporation in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $64.93.
In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Starbucks Corporation 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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