Norway Savings Bank raised its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,650 shares of the coffee company’s stock after buying an additional 125 shares during the period. Norway Savings Bank’s holdings in Starbucks Corporation were worth $388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parallel Advisors LLC purchased a new position in shares of Starbucks Corporation during the fourth quarter worth approximately $1,898,000. Arrowpoint Asset Management LLC raised its position in shares of Starbucks Corporation by 35.6% in the fourth quarter. Arrowpoint Asset Management LLC now owns 30,500 shares of the coffee company’s stock worth $1,693,000 after buying an additional 8,000 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Starbucks Corporation by 23.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 954,731 shares of the coffee company’s stock valued at $53,003,000 after buying an additional 179,154 shares in the last quarter. Guardian Capital Advisors LP raised its position in Starbucks Corporation by 1.1% in the fourth quarter. Guardian Capital Advisors LP now owns 18,568 shares of the coffee company’s stock valued at $1,048,000 after buying an additional 200 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C raised its position in Starbucks Corporation by 10.3% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 895,910 shares of the coffee company’s stock valued at $49,741,000 after buying an additional 83,412 shares in the last quarter. Hedge funds and other institutional investors own 69.59% of the company’s stock.
Starbucks Corporation (SBUX) traded down 0.43% during mid-day trading on Friday, reaching $55.44. The company had a trading volume of 9,179,779 shares. The firm has a 50-day moving average price of $58.47 and a 200 day moving average price of $58.49. The firm has a market capitalization of $80.05 billion, a price-to-earnings ratio of 27.99 and a beta of 0.80. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ 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 during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Starbucks Corporation will post $2.08 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 paid a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
Several research analysts have recently issued reports on the company. Deutsche Bank AG restated a “hold” rating and issued a $59.00 price target on shares of Starbucks Corporation in a research report on Tuesday, April 11th. Wedbush reiterated a “neutral” rating and set a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Stifel Nicolaus upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $67.00 in a report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a report on Thursday, June 8th. Finally, BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of the 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 completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the 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 directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. Corporate 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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