Premier Asset Managment LLC raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,715 shares of the coffee company’s stock after buying an additional 3,800 shares during the period. Starbucks Corporation makes up approximately 2.7% of Premier Asset Managment LLC’s holdings, making the stock its 15th largest position. Premier Asset Managment LLC’s holdings in Starbucks Corporation were worth $11,486,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealthfront Inc. increased its stake in Starbucks Corporation by 67.9% in the fourth quarter. Wealthfront Inc. now owns 37,405 shares of the coffee company’s stock worth $2,077,000 after buying an additional 15,124 shares during the last quarter. RMB Capital Management LLC increased its stake in Starbucks Corporation by 31.2% in the fourth quarter. RMB Capital Management LLC now owns 64,274 shares of the coffee company’s stock worth $3,568,000 after buying an additional 15,300 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Starbucks Corporation by 97.4% in the fourth quarter. Perigon Wealth Management LLC now owns 38,051 shares of the coffee company’s stock worth $2,173,000 after buying an additional 18,774 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in Starbucks Corporation by 0.4% in the fourth quarter. HighPoint Advisor Group LLC now owns 19,611 shares of the coffee company’s stock worth $1,121,000 after buying an additional 74 shares during the last quarter. Finally, M Holdings Securities Inc. purchased a new stake in Starbucks Corporation during the fourth quarter worth approximately $306,000. 69.59% of the stock is currently owned by institutional investors.
Starbucks Corporation (SBUX) opened at 55.44 on Friday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a market cap of $80.05 billion, a PE ratio of 27.99 and a beta of 0.80. The firm has a 50-day moving average of $58.47 and a 200-day moving average of $58.49.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post $2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued 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 1.80%. Starbucks Corporation’s payout ratio is 50.76%.
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SBUX has been the subject of a number of research analyst reports. Deutsche Bank AG restated a “hold” rating and set a $59.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 11th. Vetr upgraded 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 restated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Monday, April 17th. Zacks Investment Research upgraded 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. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation 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 given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were 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 approximately $1,455,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction dated 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 transaction, 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. 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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