Starbucks Corporation (NASDAQ:SBUX) Stake Held by Richard Bernstein Advisors LLC
Richard Bernstein Advisors LLC continued to hold its position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,797 shares of the coffee company’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Starbucks Corporation were worth $4,776,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Regent Investment Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter valued at about $256,000. Sawtooth Solutions LLC boosted its position in shares of Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares during the last quarter. Baystate Wealth Management LLC boosted its position in shares of Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares during the last quarter. Girard Partners LTD. boosted its position in shares of Starbucks Corporation by 23.7% in the first quarter. Girard Partners LTD. now owns 53,820 shares of the coffee company’s stock valued at $3,143,000 after buying an additional 10,311 shares during the last quarter. Finally, Zevin Asset Management LLC boosted its position in shares of Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) opened at 55.44 on Monday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The stock has a market capitalization of $80.05 billion, a price-to-earnings ratio of 27.99 and a beta of 0.80. The stock’s 50 day moving average is $58.47 and its 200 day moving average is $58.49.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share 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 firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that Starbucks Corporation will post $2.08 EPS 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
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SBUX has been the topic of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a report on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $59.00 target price on shares of Starbucks Corporation in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the sale, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
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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