Walter & Keenan Financial Consulting Co. MI ADV boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 21.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SBUX. GLG LLC increased its position in shares of Starbucks Corporation by 6.8% in the fourth quarter. GLG LLC now owns 82,121 shares of the coffee company’s stock worth $4,559,000 after buying an additional 5,220 shares during the period. Sciencast Management LP bought a new position in shares of Starbucks Corporation during the fourth quarter worth about $478,000. Pacific Global Investment Management CO increased its position in shares of Starbucks Corporation by 1.7% in the fourth quarter. Pacific Global Investment Management CO now owns 24,831 shares of the coffee company’s stock worth $1,379,000 after buying an additional 426 shares during the period. Moloney Securities Asset Management LLC bought a new position in shares of Starbucks Corporation during the fourth quarter worth about $234,000. Finally, Intellectus Partners LLC bought a new position in shares of Starbucks Corporation during the fourth quarter worth about $628,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Starbucks Corporation (SBUX) traded up 0.08% on Monday, reaching $53.22. The company’s stock had a trading volume of 7,416,227 shares. The company has a market capitalization of $76.84 billion, a PE ratio of 26.87 and a beta of 0.80. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a 50-day moving average of $57.19 and a 200-day moving average of $58.29.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s payout ratio is presently 50.76%.
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A number of brokerages have weighed in on SBUX. Vetr downgraded Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price for the company. in a report on Thursday, May 25th. Mizuho began coverage on Starbucks Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price for the company. Sanford C. Bernstein reiterated a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Monday, June 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Tuesday, June 13th. Finally, UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. The company presently 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 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 transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale 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 company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the transaction, the insider now directly owns 363,343 shares in the company, 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.
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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