Starbucks Corporation (NASDAQ:SBUX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 889,429 shares of the coffee company’s stock after selling 10,001 shares during the period. Starbucks Corporation comprises about 1.0% of Mirae Asset Global Investments Co. Ltd.’s investment portfolio, making the stock its 23rd largest position. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Starbucks Corporation worth $51,934,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Guardian Trust Co. increased its stake in Starbucks Corporation by 14.6% in the fourth quarter. Capital Guardian Trust Co. now owns 2,995,363 shares of the coffee company’s stock valued at $166,303,000 after buying an additional 381,302 shares during the last quarter. RB Capital Management LLC purchased a new stake in Starbucks Corporation during the fourth quarter valued at $2,875,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Starbucks Corporation during the fourth quarter valued at $1,746,000. Teachers Retirement System of The State of Kentucky increased its stake in Starbucks Corporation by 2.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 586,847 shares of the coffee company’s stock valued at $32,582,000 after buying an additional 12,700 shares during the last quarter. Finally, Castleark Management LLC increased its stake in Starbucks Corporation by 5.5% in the fourth quarter. Castleark Management LLC now owns 237,456 shares of the coffee company’s stock valued at $13,184,000 after buying an additional 12,466 shares during the last quarter. Institutional investors and hedge funds own 69.59% of the company’s stock.

Starbucks Corporation (NASDAQ:SBUX) opened at 54.00 on Monday. The stock has a market capitalization of $78.20 billion, a price-to-earnings ratio of 27.26 and a beta of 0.82. The company has a 50-day moving average price of $58.89 and a 200 day moving average price of $58.54. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data 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. Starbucks Corporation had a return on equity of 53.01% 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 in the previous year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts predict that Starbucks Corporation will post $2.10 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.

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Several brokerages have recently issued reports on SBUX. BMO Capital Markets reissued a “buy” rating and issued a $62.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 4th. Deutsche Bank AG reissued a “hold” rating and issued a $59.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 11th. Vetr raised Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.50 price objective for the company in a report on Wednesday, April 12th. Cowen and Company reissued an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a report on Monday, April 17th. Finally, Zacks Investment Research raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.93.

In related news, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction that occurred 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 transaction, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 20,000 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the transaction, the director now owns 34,000 shares of the company’s stock, valued at $2,054,620. The disclosure for this sale can be found here. Insiders have sold a total of 144,826 shares of company stock valued at $8,642,454 over the last 90 days. 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.