Starbucks Corporation (NASDAQ:SBUX) Position Reduced by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,350,662 shares of the coffee company’s stock after selling 198,660 shares during the period. Asset Management One Co. Ltd.’s holdings in Starbucks Corporation were worth $137,215,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of SBUX. Teachers Advisors LLC raised its position in Starbucks Corporation by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 3,445,675 shares of the coffee company’s stock valued at $191,304,000 after buying an additional 267,739 shares in the last quarter. Kentucky Retirement Systems purchased a new position in Starbucks Corporation during the fourth quarter valued at $5,863,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Starbucks Corporation during the fourth quarter valued at $2,616,000. Searle & CO. purchased a new position in Starbucks Corporation during the fourth quarter valued at $558,000. Finally, Wsfs Capital Management LLC purchased a new position in Starbucks Corporation during the fourth quarter valued at $421,000. Institutional investors own 69.85% of the company’s stock.
Shares of Starbucks Corporation (SBUX) opened at 55.63 on Tuesday. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a 50 day moving average price of $58.47 and a 200-day moving average price of $58.49. The company has a market capitalization of $80.32 billion, a P/E ratio of 28.08 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ 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 during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the company earned $0.49 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Starbucks Corporation will post $2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
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Several equities analysts have recently weighed in on the company. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and issued a $63.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $65.00 price objective (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $64.93.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the firm’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 completion of the sale, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 363,343 shares of the company’s stock, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company 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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