Ithaka Group LLC lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 7.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,534 shares of the coffee company’s stock after selling 30,338 shares during the period. Starbucks Corporation accounts for 4.1% of Ithaka Group LLC’s holdings, making the stock its 10th largest position. Ithaka Group LLC’s holdings in Starbucks Corporation were worth $21,402,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of SBUX. Israel Discount Bank of New York GFN acquired a new stake in shares of Starbucks Corporation during the fourth quarter worth approximately $694,000. Regent Investment Management LLC purchased a new stake in shares of Starbucks Corporation during the first quarter valued at about $256,000. Zevin Asset Management LLC raised its stake in shares of Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares during the last quarter. 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 last quarter. Finally, Baystate Wealth Management LLC raised its stake in shares of 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% on Tuesday, hitting $53.13. The company’s stock had a trading volume of 5,762,676 shares. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 26.82 and a beta of 0.80. The stock has a 50-day moving average price of $57.00 and a 200 day moving average price of $58.25.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be paid 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 is currently 50.76%.
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A number of research firms recently issued reports on SBUX. Jefferies Group LLC reiterated an “average” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 28th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, April 18th. Vetr cut Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.50 target price for the company. in a research report on Tuesday, April 18th. Stifel Nicolaus upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and upped 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. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus price target 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 shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a legal filing 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 on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction 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 $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.
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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