Walter & Keenan Financial Consulting Co. MI ADV boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 21.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 28,900 shares of the coffee company’s stock after buying an additional 5,100 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Starbucks Corporation were worth $1,687,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $1,796,675,000 after buying an additional 2,234,324 shares during the period. Norges Bank bought a new stake in shares of Starbucks Corporation during the fourth quarter valued at about $680,375,000. 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 valued at $331,722,000 after buying an additional 1,099,100 shares during the period. Teachers Advisors LLC boosted its stake in shares of Starbucks Corporation by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 3,445,675 shares of the coffee company’s stock valued at $191,304,000 after buying an additional 267,739 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Starbucks Corporation by 9.3% in the first quarter. Russell Investments Group Ltd. now owns 3,352,860 shares of the coffee company’s stock valued at $195,747,000 after buying an additional 286,081 shares during the period. 69.59% of the stock is currently owned by institutional investors.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at 55.44 on Monday. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock’s 50 day moving average price is $58.47 and its 200-day moving average price is $58.49. The firm has a market capitalization of $80.05 billion, a PE ratio of 27.99 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Equities research analysts anticipate that Starbucks Corporation will post $2.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. The ex-dividend date 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%.
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Several brokerages have issued reports on SBUX. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company 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 reaffirmed 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 set a $64.00 target price (down previously from $67.00) on shares of Starbucks Corporation in a research 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 assigned a strong buy rating to the company’s stock. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus price target 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 value of $6,827,553.96. Following the completion of the transaction, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the 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 completion of the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. 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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