Starbucks Corporation (SBUX) Stake Reduced by US Bancorp DE
US Bancorp DE reduced its position in Starbucks Corporation (NASDAQ:SBUX) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,769 shares of the coffee company’s stock after selling 7,983 shares during the period. US Bancorp DE’s holdings in Starbucks Corporation were worth $81,386,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC raised its stake in Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the period. Jacobi Capital Management LLC raised its stake in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares during the period. Sharkey Howes & Javer raised its stake in Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares during the period. IHT Wealth Management LLC raised its stake in Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC purchased a new stake in Starbucks Corporation during the first quarter worth $122,000. 69.85% of the stock is currently owned by institutional investors.
Starbucks Corporation (NASDAQ SBUX) traded down 0.493% during trading on Thursday, reaching $53.475. 4,844,777 shares of the company’s stock traded hands. The firm has a market capitalization of $77.21 billion, a PE ratio of 26.994 and a beta of 0.80. The firm has a 50 day moving average of $57.57 and a 200 day moving average of $58.36. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The business 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 company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities analysts forecast that Starbucks Corporation will post $2.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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A number of equities analysts have recently commented on SBUX shares. Wedbush reaffirmed a “neutral” rating and set a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Stifel Nicolaus raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $67.00 in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a research report on Thursday, June 8th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $64.93.
In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the sale, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. 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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