Level Four Advisory Services LLC Has $2.90 Million Stake in Starbucks Corporation (SBUX)
Level Four Advisory Services LLC raised its position in Starbucks Corporation (NASDAQ:SBUX) by 19.8% during the first quarter, Holdings Channel reports. The institutional investor owned 49,757 shares of the coffee company’s stock after buying an additional 8,237 shares during the period. Level Four Advisory Services LLC’s holdings in Starbucks Corporation were worth $2,899,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Investment Services of America Inc. boosted its position in Starbucks Corporation by 2.2% in the first quarter. Capital Investment Services of America Inc. now owns 239,905 shares of the coffee company’s stock worth $14,008,000 after buying an additional 5,256 shares during the period. Triangle Securities Wealth Management boosted its position in Starbucks Corporation by 13.0% in the first quarter. Triangle Securities Wealth Management now owns 5,859 shares of the coffee company’s stock worth $342,000 after buying an additional 675 shares during the period. Rathbone Brothers plc boosted its position in Starbucks Corporation by 19.5% in the first quarter. Rathbone Brothers plc now owns 14,792 shares of the coffee company’s stock worth $864,000 after buying an additional 2,415 shares during the period. Leith Wheeler Investment Counsel Ltd. purchased a new position in Starbucks Corporation during the first quarter worth about $247,000. Finally, Confluence Investment Management LLC boosted its position 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 period. Hedge funds and other institutional investors own 69.85% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.21% during midday trading on Friday, hitting $53.18. 9,235,033 shares of the stock were exchanged. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a market capitalization of $76.79 billion, a price-to-earnings ratio of 26.85 and a beta of 0.80. The firm’s 50 day moving average is $57.19 and its 200-day moving average is $58.29.
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 consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The business 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. This represents a $1.00 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is 50.76%.
A number of research analysts have recently issued reports on SBUX shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, May 12th. UBS AG set a $67.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Finally, Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $64.93.
In related news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction on Friday, August 4th. The shares were acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now owns 18,000 shares in the company, valued at approximately $995,400. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction dated 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 in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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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