Hodges Capital Management Inc. decreased its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,425 shares of the coffee company’s stock after selling 128 shares during the period. Hodges Capital Management Inc.’s holdings in Starbucks Corporation were worth $550,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. 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. Sigma Investment Counselors Inc. purchased a new stake in shares of Starbucks Corporation during the first quarter valued at approximately $442,000. Warren Averett Asset Management LLC raised its stake in shares of Starbucks Corporation by 41.3% in the first quarter. Warren Averett Asset Management LLC now owns 5,846 shares of the coffee company’s stock valued at $341,000 after buying an additional 1,709 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Starbucks Corporation by 52.6% in the first quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock valued at $23,332,000 after buying an additional 137,795 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down 0.64% during midday trading on Friday, hitting $52.70. 10,369,443 shares of the stock traded hands. The firm’s 50-day moving average is $56.48 and its 200 day moving average is $58.15. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a market capitalization of $76.09 billion, a price-to-earnings ratio of 26.60 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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Equities analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
SBUX has been the subject of several recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a report on Friday, May 12th. UBS AG set a $67.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $70.00 price target on shares of Starbucks Corporation in a research report on Friday, July 14th. One equities research 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 assigned a strong buy rating to the company. The company 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 stock in a transaction 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 sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate 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.
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.
