Intrust Bank NA cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,152 shares of the coffee company’s stock after selling 66 shares during the period. Intrust Bank NA’s holdings in Starbucks Corporation were worth $1,527,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC acquired a new stake in Starbucks Corporation during the fourth quarter worth $1,283,000. Texas Yale Capital Corp. raised its position in Starbucks Corporation by 25.1% in the fourth quarter. Texas Yale Capital Corp. now owns 4,661 shares of the coffee company’s stock worth $259,000 after buying an additional 935 shares during the period. Greenwood Capital Associates LLC raised its position in Starbucks Corporation by 1.2% in the fourth quarter. Greenwood Capital Associates LLC now owns 69,308 shares of the coffee company’s stock worth $3,848,000 after buying an additional 830 shares during the period. Azimuth Capital Management LLC raised its position in Starbucks Corporation by 1.1% in the fourth quarter. Azimuth Capital Management LLC now owns 136,167 shares of the coffee company’s stock worth $7,560,000 after buying an additional 1,548 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Starbucks Corporation during the fourth quarter worth approximately $113,821,000. 69.85% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corporation (NASDAQ SBUX) traded down 1.55% during midday trading on Tuesday, reaching $54.52. 11,037,958 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $58.47 and its 200-day moving average price is $58.49. The stock has a market cap of $78.72 billion, a PE ratio of 27.52 and a beta of 0.80. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities analysts predict that Starbucks Corporation will post $2.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Starbucks Corporation’s payout ratio is currently 50.76%.
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Several equities analysts recently weighed in on SBUX shares. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Tuesday, April 25th. Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a report on Saturday, May 13th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. Guggenheim downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $64.00 target price (down previously from $67.00) on shares of Starbucks Corporation in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 363,343 shares in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by 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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