Intellectus Partners LLC boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,459 shares of the coffee company’s stock after buying an additional 142 shares during the period. Intellectus Partners LLC’s holdings in Starbucks Corporation were worth $669,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Alpha Windward LLC raised its position in shares of Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares during the period. HighPoint Advisor Group LLC increased its stake in shares of Starbucks Corporation by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 19,611 shares of the coffee company’s stock valued at $1,121,000 after buying an additional 74 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Starbucks Corporation by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 11,016 shares of the coffee company’s stock valued at $643,000 after buying an additional 75 shares in the last quarter. Genesee Valley Trust Co. increased its stake in shares of Starbucks Corporation by 0.3% in the first quarter. Genesee Valley Trust Co. now owns 32,323 shares of the coffee company’s stock valued at $1,887,000 after buying an additional 92 shares in the last quarter. Finally, Norway Savings Bank increased its stake in shares of Starbucks Corporation by 1.7% in the first quarter. Norway Savings Bank now owns 6,525 shares of the coffee company’s stock valued at $381,000 after buying an additional 110 shares in the last quarter. 69.59% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ SBUX) opened at 55.44 on Friday. The firm has a 50-day moving average of $58.47 and a 200 day moving average of $58.49. The firm has a market cap of $80.05 billion, a price-to-earnings ratio of 27.99 and a beta of 0.80. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the business posted $0.49 earnings per share. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Starbucks Corporation will post $2.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.80%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
Several analysts have recently weighed in on the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research note on Tuesday, April 25th. Stifel Nicolaus upgraded Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Guggenheim downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, BMO Capital Markets restated an “outperform” rating and set a $64.00 target price (down 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 given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the 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 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 this link. Also, insider Clifford Burrows sold 114,826 shares of the company’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 sale, the insider now directly owns 363,343 shares of the company’s stock, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. Corporate 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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