Signaturefd LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 24.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,820 shares of the coffee company’s stock after buying an additional 1,528 shares during the period. Signaturefd LLC’s holdings in Starbucks Corporation were worth $457,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Level Four Advisory Services LLC increased its stake in shares of Starbucks Corporation by 19.8% in the first quarter. Level Four Advisory Services LLC now owns 49,757 shares of the coffee company’s stock valued at $2,899,000 after buying an additional 8,237 shares in the last quarter. State Street Corp increased its stake in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $479,000. Keel Point LLC increased its stake in shares of Starbucks Corporation by 1.4% in the first quarter. Keel Point LLC now owns 4,881 shares of the coffee company’s stock valued at $285,000 after buying an additional 68 shares in the last quarter. Finally, MEMBERS Trust Co acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $577,000. 69.85% of the stock is owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ SBUX) traded up 0.21% during mid-day trading on Friday, reaching $53.18. The company’s stock had a trading volume of 9,235,033 shares. The company has a 50 day moving average of $57.19 and a 200-day moving average of $58.29. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock has a market cap of $76.79 billion, a PE ratio of 26.85 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. 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 prior year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
Several equities research analysts recently issued reports on the company. BMO Capital Markets downgraded Starbucks Corporation from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $54.52 to $64.00 in a research note on Wednesday. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Starbucks Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $63.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, BTIG Research reissued a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. Starbucks Corporation currently has an average 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 company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $6,827,553.96. Following the completion of the transaction, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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