Investment Centers of America Inc. Has $3.33 Million Position in Starbucks Corporation (NASDAQ:SBUX)
Investment Centers of America Inc. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,897 shares of the coffee company’s stock after selling 1,919 shares during the period. Investment Centers of America Inc.’s holdings in Starbucks Corporation were worth $3,334,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC increased its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the last quarter. TrimTabs Asset Management LLC purchased a new position in shares of Starbucks Corporation during the first quarter valued at $122,000. Kings Point Capital Management increased its position in shares of Starbucks Corporation by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock valued at $135,000 after buying an additional 425 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock valued at $137,000 after buying an additional 207 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Starbucks Corporation during the first quarter valued at $140,000. 69.85% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corporation (SBUX) traded up 0.21% during trading on Friday, hitting $53.18. The stock had a trading volume of 9,235,033 shares. The company’s 50-day moving average is $57.19 and its 200 day moving average is $58.29. The firm has a market cap of $76.79 billion, a PE ratio of 26.85 and a beta of 0.80. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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Several research analysts recently weighed in on SBUX shares. Jefferies Group LLC reissued an “average” rating and issued a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, July 28th. Zacks Investment Research raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, April 18th. Vetr downgraded shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.50 price objective for the company. in a research note on Tuesday, April 18th. Stifel Nicolaus raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Finally, UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the company a “buy” rating in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus price target of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction that occurred 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 sale, the director now owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase 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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