Godsey & Gibb Associates boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,129 shares of the coffee company’s stock after buying an additional 3,340 shares during the period. Starbucks Corporation comprises about 2.6% of Godsey & Gibb Associates’ holdings, making the stock its 20th largest position. Godsey & Gibb Associates’ holdings in Starbucks Corporation were worth $14,079,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Gradient Investments LLC increased 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 worth $109,000 after buying an additional 718 shares during the last quarter. TrimTabs Asset Management LLC purchased a new stake in Starbucks Corporation during the first quarter worth about $122,000. Quadrant Capital Group LLC increased its stake in Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Starbucks Corporation during the first quarter worth about $140,000. Finally, Pinnacle Bank purchased a new stake in Starbucks Corporation during the first quarter worth about $146,000. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 2.5872% during midday trading on Tuesday, hitting $54.5251. The company had a trading volume of 4,086,228 shares. The firm has a market capitalization of $78.73 billion, a PE ratio of 27.5240 and a beta of 0.80. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The company has a 50-day moving average of $56.17 and a 200 day moving average of $58.18.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors 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 1.88%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
ILLEGAL ACTIVITY WARNING: This news story was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://stocknewstimes.com/2017/08/22/godsey-gibb-associates-increases-stake-in-starbucks-corporation-sbux.html.
A number of analysts have issued reports on SBUX shares. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 28th. Deutsche Bank AG raised Starbucks Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $59.00 to $69.00 in a research note on Monday, May 15th. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Saturday, May 13th. Stifel Nicolaus raised Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. Finally, Mizuho started coverage on Starbucks Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $75.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $64.64.
In related news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation 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 completion of the transaction, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, 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. Company 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.
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.
