Starbucks Corporation (SBUX) Shares Bought by Suffolk Capital Management LLC

Suffolk Capital Management LLC increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,817 shares of the coffee company’s stock after acquiring an additional 14,591 shares during the period. Starbucks Corporation comprises about 1.8% of Suffolk Capital Management LLC’s holdings, making the stock its 12th largest holding. Suffolk Capital Management LLC’s holdings in Starbucks Corporation were worth $13,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vaughan David Investments Inc. IL lifted its stake in shares of Starbucks Corporation by 0.6% in the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after acquiring an additional 26 shares during the last quarter. Ingalls & Snyder LLC lifted its stake in shares of Starbucks Corporation by 1.1% in the 1st quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after acquiring an additional 40 shares during the last quarter. FCG Advisors LLC lifted its stake in shares of Starbucks Corporation by 1.5% in the 1st quarter. FCG Advisors LLC now owns 5,229 shares of the coffee company’s stock valued at $305,000 after acquiring an additional 76 shares during the last quarter. Genesee Valley Trust Co. lifted its stake in shares of Starbucks Corporation by 0.3% in the 1st quarter. Genesee Valley Trust Co. now owns 32,323 shares of the coffee company’s stock valued at $1,887,000 after acquiring an additional 92 shares during the last quarter. Finally, Intellectus Partners LLC lifted its stake in shares of Starbucks Corporation by 1.3% in the 1st quarter. Intellectus Partners LLC now owns 11,459 shares of the coffee company’s stock valued at $669,000 after acquiring an additional 142 shares during the last quarter. 70.99% of the stock is owned by institutional investors.

Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 1.72% during trading on Wednesday, reaching $54.46. The company had a trading volume of 7,012,168 shares. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The company’s 50 day moving average is $54.64 and its 200-day moving average is $57.96. The stock has a market capitalization of $78.63 billion, a price-to-earnings ratio of 27.49 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities research analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Cowen and Company reaffirmed a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Wedbush raised Starbucks Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $57.00 to $60.00 in a research report on Friday, August 25th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Wednesday, August 23rd. Finally, Cleveland Research lowered Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 23rd. Twelve investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company. Starbucks Corporation presently has an average rating of “Buy” and an average target price of $64.64.

In other Starbucks Corporation news, 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 cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly 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 accessible through this link. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the transaction, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. 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.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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