Sawtooth Solutions LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 60.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,346 shares of the coffee company’s stock after buying an additional 6,884 shares during the period. Sawtooth Solutions LLC’s holdings in Starbucks Corporation were worth $1,071,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Starbucks Corporation during the fourth quarter worth approximately $680,375,000. Ameriprise Financial Inc. boosted 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 worth $827,444,000 after buying an additional 3,511,080 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 worth $1,796,675,000 after buying an additional 2,234,324 shares in the last quarter. Swiss National Bank boosted its stake in shares of Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock worth $331,722,000 after buying an additional 1,099,100 shares in the last quarter. Finally, Haverford Trust Co. bought a new stake in shares of Starbucks Corporation during the first quarter worth $49,787,000. Hedge funds and other institutional investors own 69.59% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 1.1612% during midday trading on Wednesday, reaching $55.3655. 12,019,179 shares of the company’s stock were exchanged. The stock has a market capitalization of $80.17 billion, a P/E ratio of 27.9483 and a beta of 0.81. The firm has a 50-day moving average of $58.47 and a 200-day moving average of $58.49. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business 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 revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Analysts anticipate that Starbucks Corporation will post $2.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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A number of brokerages have weighed in on SBUX. UBS AG set a $70.00 price target on Starbucks Corporation and gave the stock 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. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Guggenheim cut 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 target (down previously from $67.00) on shares of Starbucks Corporation in a 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 given a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and an average target price of $64.93.
In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the 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 owns 24,000 shares in the company, valued at $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently 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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