Macquarie Group Ltd. Has $26.42 Million Position in Starbucks Corporation (SBUX)
Macquarie Group Ltd. cut its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,524 shares of the coffee company’s stock after selling 5,947 shares during the period. Macquarie Group Ltd.’s holdings in Starbucks Corporation were worth $26,422,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Polen Capital Management LLC raised its stake in Starbucks Corporation by 7.6% in the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after buying an additional 737,343 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Starbucks Corporation by 6.5% in the first quarter. Legal & General Group Plc now owns 6,755,419 shares of the coffee company’s stock valued at $394,449,000 after buying an additional 409,845 shares during the last quarter. 69.85% of the stock is owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ SBUX) traded up 0.21% during trading on Friday, reaching $53.18. 9,235,033 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $57.19 and its 200 day moving average price is $58.29. The firm has a market cap of $76.79 billion, a P/E 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 announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The company 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 firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. Equities research analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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SBUX has been the subject of several analyst reports. Vetr lowered 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. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Monday, June 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 21st. 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 Wednesday, June 28th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $58.00 price objective on shares of Starbucks Corporation in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.93.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the sale, the insider now directly owns 363,343 shares in the company, 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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