Brown Advisory Securities LLC Has $3.37 Million Position in Starbucks Corporation (SBUX)
Brown Advisory Securities LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,785 shares of the coffee company’s stock after selling 110 shares during the period. Brown Advisory Securities LLC’s holdings in Starbucks Corporation were worth $3,373,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in SBUX. Hills Bank & Trust Co. boosted its stake in Starbucks Corporation by 3.3% in the first quarter. Hills Bank & Trust Co. now owns 33,585 shares of the coffee company’s stock worth $1,961,000 after buying an additional 1,080 shares during the last quarter. Boltwood Capital Management boosted its stake in Starbucks Corporation by 13.6% in the first quarter. Boltwood Capital Management now owns 17,760 shares of the coffee company’s stock worth $1,037,000 after buying an additional 2,125 shares during the last quarter. Catawba Capital Management VA boosted its stake in Starbucks Corporation by 22.4% in the first quarter. Catawba Capital Management VA now owns 9,830 shares of the coffee company’s stock worth $574,000 after buying an additional 1,800 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Starbucks Corporation by 117.9% in the first quarter. Confluence Investment Management LLC now owns 472,622 shares of the coffee company’s stock worth $27,596,000 after buying an additional 255,761 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in Starbucks Corporation during the first quarter worth about $247,000. Institutional investors and hedge funds own 69.85% of the company’s stock.
Starbucks Corporation (SBUX) traded down 0.5581% during midday trading on Thursday, hitting $53.4401. The stock had a trading volume of 1,734,868 shares. The firm’s 50-day moving average price is $57.56 and its 200 day moving average price is $58.36. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The company has a market cap of $77.16 billion, a P/E ratio of 26.9763 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, analysts expect that Starbucks Corporation will post $2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s payout ratio is presently 50.76%.
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A number of analysts recently issued reports on the company. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $54.52 to $64.00 in a research note on Wednesday. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Starbucks Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company reissued an “outperform” rating and set a $63.00 target price (down from $66.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.93.
In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. Company 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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