Starbucks Corporation (SBUX) Shares Bought by Catawba Capital Management VA
Catawba Capital Management VA increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 18.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,615 shares of the coffee company’s stock after acquiring an additional 1,785 shares during the period. Catawba Capital Management VA’s holdings in Starbucks Corporation were worth $677,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. State Street Corp raised its position in Starbucks Corporation by 2.7% during the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after purchasing an additional 1,598,669 shares in the last quarter. Bank of New York Mellon Corp raised its position in Starbucks Corporation by 7.8% during the 1st 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 purchasing an additional 2,234,324 shares in the last quarter. Magellan Asset Management Ltd raised its position in Starbucks Corporation by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after purchasing an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. raised its position in Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after purchasing an additional 3,511,080 shares in the last quarter. Finally, Polen Capital Management LLC raised its position in Starbucks Corporation by 7.6% during the 1st quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after purchasing an additional 737,343 shares in the last quarter. 70.99% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John Culver sold 64,776 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the sale, the insider now owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
A number of brokerages have weighed in on SBUX. Vetr lowered Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price for the company. in a research report on Thursday, May 25th. Mizuho began coverage on Starbucks Corporation in a research report on Thursday, June 8th. They set a “buy” rating and a $75.00 target price for the company. Sanford C. Bernstein reaffirmed a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, Wedbush lowered Starbucks Corporation from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $61.00 to $65.00 in a research report on Wednesday, June 14th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $64.64.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.26% during trading on Friday, hitting $54.67. The stock had a trading volume of 10,744,783 shares. The stock’s 50-day moving average is $54.15 and its 200-day moving average is $57.87. The stock has a market cap of $78.94 billion, a price-to-earnings ratio of 27.60 and a beta of 0.78. 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 quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the company posted $0.49 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post $2.07 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
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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