Starbucks Corporation (SBUX) Position Reduced by Texas Permanent School Fund
Texas Permanent School Fund decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 5.0% during the third quarter, Holdings Channel reports. The firm owned 451,663 shares of the coffee company’s stock after selling 23,612 shares during the period. Texas Permanent School Fund’s holdings in Starbucks Corporation were worth $24,453,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its position in Starbucks Corporation by 2.5% in the second quarter. Whittier Trust Co. now owns 303,999 shares of the coffee company’s stock worth $17,361,000 after buying an additional 7,478 shares during the period. Hermes Investment Management Ltd. boosted its position in Starbucks Corporation by 19.2% in the second quarter. Hermes Investment Management Ltd. now owns 191,294 shares of the coffee company’s stock worth $10,927,000 after buying an additional 30,800 shares during the period. Adams Diversified Equity Fund Inc. purchased a new position in Starbucks Corporation during the second quarter worth $14,354,000. Ledyard National Bank boosted its position in Starbucks Corporation by 5.7% in the second quarter. Ledyard National Bank now owns 124,528 shares of the coffee company’s stock worth $7,113,000 after buying an additional 6,720 shares during the period. Finally, Huntington National Bank boosted its position in Starbucks Corporation by 440.5% in the second quarter. Huntington National Bank now owns 191,732 shares of the coffee company’s stock worth $10,952,000 after buying an additional 156,256 shares during the period. Institutional investors and hedge funds own 67.44% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 58.03 on Friday. The company has a 50-day moving average of $57.55 and a 200-day moving average of $55.75. The firm has a market cap of $84.46 billion, a PE ratio of 30.54 and a beta of 0.79. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $61.78.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The firm earned $5.71 billion during the quarter, compared to the consensus estimate of $5.68 billion. Starbucks Corporation had a return on equity of 49.88% and a net margin of 13.22%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. Analysts predict that Starbucks Corporation will post $2.14 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was first reported by Daily Political and is the propert of of Daily Political. If you are reading this piece on another publication, it was stolen and reposted in violation of US and international trademark and copyright law. The original version of this piece can be viewed at http://www.dailypolitical.com/2017/01/13/starbucks-corporation-sbux-position-reduced-by-texas-permanent-school-fund.html.
SBUX has been the topic of a number of research analyst reports. Longbow Research initiated coverage on shares of Starbucks Corporation in a report on Wednesday, September 21st. They issued a “buy” rating on the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $69.00 price target on shares of Starbucks Corporation in a report on Friday, September 23rd. Piper Jaffray Companies set a $72.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Tuesday, September 20th. cut their price target on shares of Starbucks Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, September 28th. Finally, BMO Capital Markets restated a “buy” rating on shares of Starbucks Corporation in a report on Friday, November 4th. Six analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus target price of $63.89.
In other Starbucks Corporation news, insider John Culver sold 168,814 shares of the business’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $58.65, for a total value of $9,900,941.10. Following the completion of the sale, the insider now owns 478,446 shares in the company, valued at $28,060,857.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Clifford Burrows sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, December 8th. The shares were sold at an average price of $58.88, for a total value of $4,710,400.00. Following the completion of the sale, the insider now owns 248,517 shares of the company’s stock, valued at approximately $14,632,680.96. The disclosure for this sale can be found here. 3.38% of the stock is owned by corporate insiders.
Starbucks Corporation Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).
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.