Starbucks Corporation (SBUX) Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,755,419 shares of the coffee company’s stock after buying an additional 409,845 shares during the period. Legal & General Group Plc’s holdings in Starbucks Corporation were worth $394,449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC increased its position in shares of Starbucks Corporation by 117.9% in the first quarter. Confluence Investment Management LLC now owns 472,622 shares of the coffee company’s stock valued at $27,596,000 after buying an additional 255,761 shares during the period. Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Starbucks Corporation during the first quarter valued at $247,000. Rathbone Brothers plc increased its position in shares of Starbucks Corporation by 19.5% in the first quarter. Rathbone Brothers plc now owns 14,792 shares of the coffee company’s stock valued at $864,000 after buying an additional 2,415 shares during the period. Triangle Securities Wealth Management increased its position in shares of Starbucks Corporation by 13.0% in the first quarter. Triangle Securities Wealth Management now owns 5,859 shares of the coffee company’s stock valued at $342,000 after buying an additional 675 shares during the period. Finally, Capital Investment Services of America Inc. increased its position in shares of Starbucks Corporation by 2.2% in the first quarter. Capital Investment Services of America Inc. now owns 239,905 shares of the coffee company’s stock valued at $14,008,000 after buying an additional 5,256 shares during the period. 69.85% of the stock is currently owned by institutional investors.

Starbucks Corporation (SBUX) traded down 1.94% during trading on Wednesday, reaching $53.46. The company had a trading volume of 5,668,552 shares. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock has a market cap of $77.19 billion, a PE ratio of 26.99 and a beta of 0.80. The company has a 50-day moving average price of $58.05 and a 200 day moving average price of $58.43.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business 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%. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. On average, analysts anticipate that Starbucks Corporation will post $2.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.

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SBUX has been the topic of several analyst reports. Deutsche Bank AG reiterated a “hold” rating and issued a $59.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 11th. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.50 target price on the stock in a research note on Wednesday, April 12th. Cowen and Company reiterated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Monday, April 17th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 18th. One equities research 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. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $64.93.

In other news, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total value of $6,827,553.96. Following the sale, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. Company 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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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