Fishman Jay A Ltd. MI raised its position in Starbucks Corporation (NASDAQ:SBUX) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,217 shares of the coffee company’s stock after buying an additional 5,183 shares during the period. Starbucks Corporation accounts for about 3.5% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 9th largest position. Fishman Jay A Ltd. MI’s holdings in Starbucks Corporation were worth $15,603,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. Ameriprise Financial Inc. increased its position in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the period. Swiss National Bank increased its position in Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock worth $331,722,000 after buying an additional 1,099,100 shares during the period. Russell Investments Group Ltd. increased its position in Starbucks Corporation by 9.3% in the first quarter. Russell Investments Group Ltd. now owns 3,352,860 shares of the coffee company’s stock worth $195,747,000 after buying an additional 286,081 shares during the period. Finally, Rhumbline Advisers increased its position in Starbucks Corporation by 0.6% in the first quarter. Rhumbline Advisers now owns 2,383,016 shares of the coffee company’s stock worth $139,144,000 after buying an additional 13,988 shares during the period. 69.98% of the stock is owned by institutional investors.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.78% on Friday, hitting $54.36. The stock had a trading volume of 8,601,120 shares. 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 $78.49 billion, a P/E ratio of 27.44 and a beta of 0.80. The company’s 50 day moving average is $55.81 and its 200-day moving average is $58.10.
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, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts forecast that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
A number of research firms have issued reports on SBUX. Stifel Nicolaus upgraded Starbucks Corporation to a “buy” rating in a report on Saturday, May 13th. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a report on Saturday, May 13th. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. BTIG Research reiterated a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Instinet reiterated a “buy” rating and issued a $67.00 price objective (down previously from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $64.64.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’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 transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the business’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 value of $606,300.00. Following the transaction, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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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