Cypress Capital Management LLC WY Increases Stake in Starbucks Corporation (NASDAQ:SBUX)

Cypress Capital Management LLC WY raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 23.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,340 shares of the coffee company’s stock after buying an additional 3,150 shares during the period. Starbucks Corporation comprises 1.1% of Cypress Capital Management LLC WY’s portfolio, making the stock its 19th largest position. Cypress Capital Management LLC WY’s holdings in Starbucks Corporation were worth $953,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Gradient Investments LLC raised its stake in Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Sharkey Howes & Javer raised its stake in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in shares of Starbucks Corporation during the first quarter worth approximately $122,000. 69.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 52.70 on Friday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The stock has a market cap of $76.09 billion, a PE ratio of 26.60 and a beta of 0.80. The firm has a 50 day moving average price of $56.32 and a 200 day moving average price of $58.13.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results 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 for 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 revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. On average, equities analysts expect that Starbucks Corporation will post $2.07 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.

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A number of research analysts have issued reports on the stock. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $54.52 to $64.00 in a research note 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 issued a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.93.

In other Starbucks Corporation 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 transaction of $606,300.00. Following the sale, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently 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.