Financial Advisory Service Inc. raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,582 shares of the coffee company’s stock after buying an additional 179 shares during the period. Financial Advisory Service Inc.’s holdings in Starbucks Corporation were worth $326,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in SBUX. CIBC World Markets Inc. raised its stake in shares of Starbucks Corporation by 1.5% in the first quarter. CIBC World Markets Inc. now owns 420,622 shares of the coffee company’s stock valued at $24,560,000 after buying an additional 6,170 shares during the period. State of Tennessee Treasury Department raised its stake in shares of Starbucks Corporation by 1.9% in the first quarter. State of Tennessee Treasury Department now owns 880,646 shares of the coffee company’s stock valued at $51,421,000 after buying an additional 16,639 shares during the period. Schnieders Capital Management LLC acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $226,000. Sawtooth Solutions LLC raised its stake in shares of Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares during the period. Finally, Sigma Investment Counselors Inc. acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $442,000. 69.85% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Corporation (NASDAQ SBUX) opened at 53.18 on Friday. The company has a market capitalization of $76.79 billion, a PE ratio of 26.85 and a beta of 0.80. The company has a 50 day moving average of $57.19 and a 200 day moving average of $58.29. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The business 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 of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.88%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
TRADEMARK VIOLATION WARNING: This story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://stocknewstimes.com/2017/08/12/financial-advisory-service-inc-has-326000-position-in-starbucks-corporation-sbux-updated-updated.html.
SBUX has been the topic of several analyst reports. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a report on Monday, April 17th. Vetr lowered shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.50 target price on the stock. in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, April 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Tuesday, April 18th. Finally, Stifel Nicolaus raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and increased their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a filing 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 on 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 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.
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.
Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
