Starbucks Corporation (SBUX) Holdings Lifted by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC raised its holdings in Starbucks Corporation (NASDAQ:SBUX) by 5,654.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 437,966 shares of the coffee company’s stock after acquiring an additional 430,355 shares during the period. Harbour Capital Advisors LLC’s holdings in Starbucks Corporation were worth $7,511,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in SBUX. CGOV Asset Management grew its position in Starbucks Corporation by 5.1% in the first quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock valued at $88,920,000 after acquiring an additional 55,405 shares during the last quarter. Retirement Systems of Alabama grew its position in Starbucks Corporation by 2.1% in the first quarter. Retirement Systems of Alabama now owns 704,482 shares of the coffee company’s stock valued at $41,135,000 after acquiring an additional 14,660 shares during the last quarter. Cape Cod Five Cents Savings Bank grew its position in Starbucks Corporation by 152.6% in the first quarter. Cape Cod Five Cents Savings Bank now owns 27,286 shares of the coffee company’s stock valued at $1,593,000 after acquiring an additional 16,483 shares during the last quarter. Raub Brock Capital Management LP bought a new position in Starbucks Corporation in the first quarter valued at about $14,259,000. Finally, Hudson Valley Investment Advisors Inc. ADV grew its position in Starbucks Corporation by 5.3% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 38,650 shares of the coffee company’s stock valued at $2,257,000 after acquiring an additional 1,945 shares during the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/14/starbucks-corporation-sbux-holdings-lifted-by-harbour-capital-advisors-llc.html.
In other news, insider John Culver sold 64,776 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares in the company, valued at approximately $20,898,857.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The stock was purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.29 on Thursday. The company has a market cap of $78.39 billion, a P/E ratio of 27.41 and a beta of 0.78. The stock’s 50 day moving average price is $54.51 and its 200 day moving average price is $57.93. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. On average, analysts forecast that Starbucks Corporation will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s payout ratio is presently 50.76%.
A number of research firms have issued reports on SBUX. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Wednesday, June 28th. Wedbush reiterated a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. BTIG Research reiterated a “buy” rating and issued a $64.00 target price on shares of Starbucks Corporation in a research report on Sunday, July 30th. Instinet reiterated a “buy” rating and issued a $67.00 target price (down previously from $70.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research report on Wednesday, June 28th. Twelve research analysts have rated the stock with 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 $64.64.
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.