First Personal Financial Services raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,751 shares of the coffee company’s stock after buying an additional 1,922 shares during the period. First Personal Financial Services’ holdings in Starbucks Corporation were worth $1,212,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Starbucks Corporation during the fourth quarter worth approximately $16,059,000. Gradient Investments LLC increased its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Starbucks Corporation during the first quarter worth approximately $140,000. Quadrant Capital Group LLC increased its stake in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares in the last quarter. Finally, Pinnacle Bank acquired a new stake in shares of Starbucks Corporation during the first quarter worth approximately $146,000. 69.65% of the stock is owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (SBUX) traded down 9.24% during trading on Friday, hitting $54.00. The stock had a trading volume of 53,454,789 shares. The stock has a market cap of $78.20 billion, a price-to-earnings ratio of 27.26 and a beta of 0.82. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock’s 50-day moving average price is $58.89 and its 200 day moving average price is $58.54.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 53.01%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, equities analysts forecast that Starbucks Corporation will post $2.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Starbucks Corporation’s payout ratio is 50.76%.
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A number of brokerages have recently commented on SBUX. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus raised Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. Guggenheim downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a report on Friday. Finally, Cowen and Company reiterated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.19.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction 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. In the last ninety days, insiders have sold 144,826 shares of company stock valued at $8,642,454. Company insiders own 3.40% of the company’s stock.
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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