Abbrea Capital LLC raised its position in Starbucks Corporation (NASDAQ:SBUX) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,020 shares of the coffee company’s stock after buying an additional 505 shares during the period. Abbrea Capital LLC’s holdings in Starbucks Corporation were worth $410,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Israel Discount Bank of New York GFN bought a new stake in Starbucks Corporation during the fourth quarter worth about $694,000. Regent Investment Management LLC bought a new stake in Starbucks Corporation during the first quarter worth about $256,000. Zevin Asset Management LLC raised its stake in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares during the last quarter. Sawtooth Solutions LLC raised its stake in Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares during the last quarter. Finally, Baystate Wealth Management LLC boosted its position in Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares during the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.17% during trading on Tuesday, reaching $53.13. 5,762,676 shares of the company were exchanged. The firm has a 50-day moving average price of $57.00 and a 200-day moving average price of $58.25. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a market capitalization of $76.71 billion, a P/E ratio of 26.82 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities research analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
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SBUX has been the subject of a number of research reports. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a report on Tuesday, April 25th. Stifel Nicolaus upgraded Starbucks Corporation to a “buy” rating in a report on Saturday, May 13th. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $54.52 to $64.00 in a report on Wednesday, August 9th. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.93.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The purchase 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 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 directly 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. 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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