Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent disclosure with the SEC. The firm acquired 44,137 shares of the coffee company’s stock, valued at approximately $2,558,000.
A number of other large investors have also recently made changes to their positions in SBUX. Evermay Wealth Management LLC boosted its stake in shares of Starbucks Corporation by 11.5% in the first quarter. Evermay Wealth Management LLC now owns 4,820 shares of the coffee company’s stock worth $281,000 after buying an additional 498 shares during the period. Heritage Wealth Advisors boosted its stake in shares of Starbucks Corporation by 7.2% in the first quarter. Heritage Wealth Advisors now owns 4,674 shares of the coffee company’s stock worth $272,000 after buying an additional 315 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of Starbucks Corporation by 0.7% in the first quarter. Aberdeen Asset Management PLC UK now owns 301,987 shares of the coffee company’s stock worth $17,633,000 after buying an additional 2,147 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of Starbucks Corporation by 3.5% in the first quarter. Peapack Gladstone Financial Corp now owns 237,068 shares of the coffee company’s stock worth $13,842,000 after buying an additional 8,063 shares during the period. Finally, Arthur M. Cohen & Associates LLC boosted its stake in shares of Starbucks Corporation by 8.2% in the first quarter. Arthur M. Cohen & Associates LLC now owns 19,770 shares of the coffee company’s stock worth $1,154,000 after buying an additional 1,500 shares during the period. 69.98% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corporation (NASDAQ SBUX) traded down 0.43% during trading on Thursday, reaching $53.85. The company had a trading volume of 3,369,291 shares. The firm’s 50-day moving average price is $56.01 and its 200 day moving average price is $58.14. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a market capitalization of $77.75 billion, a P/E ratio of 27.18 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share 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 firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
A number of brokerages have commented on SBUX. Sanford C. Bernstein reissued an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Wednesday. Cleveland Research lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday. Morgan Stanley dropped their target price on Starbucks Corporation from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday. BMO Capital Markets lowered Starbucks Corporation from an “outperform” rating to a “market perform” rating and raised their target price for the company from $54.52 to $64.00 in a report on Wednesday, August 9th. Finally, BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.64.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
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.
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