Notis McConarty Edward Invests $229,000 in Starbucks Corporation (NASDAQ:SBUX)
Notis McConarty Edward acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,916 shares of the coffee company’s stock, valued at approximately $229,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Gradient Investments LLC boosted 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 worth $109,000 after buying an additional 718 shares in the last quarter. TrimTabs Asset Management LLC purchased a new position in shares of Starbucks Corporation during the first quarter worth about $122,000. Kings Point Capital Management boosted 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 worth $135,000 after buying an additional 425 shares in the last quarter. Quadrant Capital Group LLC boosted 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 worth $137,000 after buying an additional 207 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Starbucks Corporation during the first quarter worth about $140,000. 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 trading on Friday, hitting $53.18. 9,235,033 shares of the stock traded hands. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a market cap of $76.79 billion, a price-to-earnings ratio of 26.85 and a beta of 0.80. The stock has a 50 day moving average price of $57.19 and a 200-day moving average price of $58.29.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The company had revenue of $5.66 billion for 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 firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. Equities analysts forecast that Starbucks Corporation will post $2.07 EPS for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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 currently 50.76%.
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A number of research analysts recently issued reports on the stock. Wedbush restated a “neutral” rating and set a $60.00 price objective (down previously from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Stifel Nicolaus upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $67.00 in a report on Wednesday, April 19th. They noted that the move was a valuation call. Vetr upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price target for the company in a report on Thursday, June 8th. BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $64.93.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the business’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 $995,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clifford Burrows sold 114,826 shares of the business’s 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 completion of the transaction, 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. 3.40% of the stock is currently owned by insiders.
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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