Nwam LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,704 shares of the coffee company’s stock after selling 9,522 shares during the period. Starbucks Corporation accounts for about 0.9% of Nwam LLC’s portfolio, making the stock its 16th largest holding. Nwam LLC’s holdings in Starbucks Corporation were worth $5,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Starbucks Corporation by 2.7% during the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after purchasing an additional 1,598,669 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $1,796,675,000 after purchasing an additional 2,234,324 shares during the last quarter. Magellan Asset Management Ltd boosted its holdings in shares of 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 worth $1,090,000,000 after purchasing an additional 18,667,265 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after purchasing an additional 3,511,080 shares during the last quarter. Finally, Polen Capital Management LLC boosted its holdings in shares of 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 worth $611,035,000 after purchasing an additional 737,343 shares during the last quarter. Institutional investors and hedge funds own 70.82% of the company’s stock.

Starbucks Corporation (NASDAQ SBUX) opened at 55.01 on Friday. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The company has a 50-day moving average price of $54.19 and a 200 day moving average price of $57.85. The stock has a market cap of $79.43 billion, a price-to-earnings ratio of 27.77 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were issued a $0.25 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.

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Several brokerages have recently weighed in on SBUX. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. BTIG Research restated a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a report on Sunday, July 30th. Instinet restated a “buy” rating and set a $67.00 target price (down from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a report on Wednesday, June 28th. Thirteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $64.64.

In related news, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was 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 directly 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. 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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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