Forsta AP Fonden Increases Stake in Starbucks Corporation (SBUX)

Forsta AP Fonden increased its position in Starbucks Corporation (NASDAQ:SBUX) by 27.4% during the second quarter, Holdings Channel reports. The institutional investor owned 99,443 shares of the coffee company’s stock after buying an additional 21,400 shares during the period. Forsta AP Fonden’s holdings in Starbucks Corporation were worth $5,799,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Gradient Investments LLC boosted its stake in 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. Jacobi Capital Management LLC boosted its stake in Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Sharkey Howes & Javer boosted its stake in Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. Finally, TrimTabs Asset Management LLC bought a new stake in Starbucks Corporation during the first quarter worth about $122,000. Institutional investors own 69.98% of the company’s stock.

Starbucks Corporation (NASDAQ:SBUX) traded down 0.55% during midday trading on Friday, reaching $52.75. 4,764,537 shares of the company traded hands. The stock’s 50 day moving average is $56.48 and its 200 day moving average is $58.15. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a market capitalization of $76.17 billion, a price-to-earnings ratio of 26.63 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s payout ratio is currently 50.76%.

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SBUX has been the subject of a number of research reports. Jefferies Group LLC restated an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, July 28th. Deutsche Bank AG upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $69.00 in a research note on Monday, May 15th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Saturday, May 13th. Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. Finally, Mizuho initiated coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They set a “buy” rating and a $75.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $64.93.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the transaction, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were acquired at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company 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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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