Regent Investment Management LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,683 shares of the coffee company’s stock after buying an additional 300 shares during the period. Regent Investment Management LLC’s holdings in Starbucks Corporation were worth $273,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the period. Magellan Asset Management Ltd raised its stake in shares of Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Starbucks Corporation during the fourth quarter valued at about $680,375,000. 69.59% of the stock is owned by institutional investors and hedge funds.
Starbucks Corporation (SBUX) traded up 0.02% during mid-day trading on Monday, hitting $54.01. 8,616,970 shares of the company traded hands. The firm has a market capitalization of $78.21 billion, a P/E 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 firm has a 50 day moving average of $58.89 and a 200 day moving average of $58.54.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 53.01%. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the business earned $0.49 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Starbucks Corporation will post $2.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
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Several analysts recently issued reports on the company. Zacks Investment Research lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Monday. Cowen and Company reiterated an “outperform” rating and issued a $63.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday. BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday. Bank of America Corporation reiterated a “buy” rating and issued a $65.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday. Finally, Instinet reiterated a “buy” rating and issued a $67.00 price objective (down from $70.00) on shares of Starbucks Corporation in a research note on Sunday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the business’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 sale, the director now owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,826 shares of company stock worth $8,642,454. Company insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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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