Park Avenue Securities LLC purchased a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,833 shares of the coffee company’s stock, valued at approximately $605,000.
Other institutional investors have also bought and sold shares of the company. Regent Investment Management LLC raised its holdings in shares of Starbucks Corporation by 6.8% during the 2nd quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock worth $273,000 after buying an additional 300 shares in the last quarter. Cape Cod Five Cents Savings Bank raised its holdings in shares of Starbucks Corporation by 16.9% during the 2nd quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares in the last quarter. Appropriate Balance Financial Services Inc. raised its holdings in shares of Starbucks Corporation by 1.6% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares in the last quarter. Zevin Asset Management LLC raised its holdings in shares of Starbucks Corporation by 1.0% during the 1st quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares in the last quarter. Finally, Sawtooth Solutions LLC raised its holdings in shares of Starbucks Corporation by 60.1% during the 1st quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares in the last quarter. 70.99% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on SBUX shares. Jefferies Group LLC restated an “average” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 28th. Deutsche Bank AG upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $69.00 in a research report on Monday, May 15th. BidaskClub lowered Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Finally, Sanford C. Bernstein restated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a research report on Monday, June 12th. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. Starbucks Corporation has an average rating of “Buy” and an average price target of $64.64.
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Shares of Starbucks Corporation (NASDAQ SBUX) opened at 53.49 on Monday. The stock has a 50 day moving average price of $54.75 and a 200 day moving average price of $57.98. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The stock has a market capitalization of $77.23 billion, a P/E ratio of 27.00 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the business earned $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 firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Starbucks Corporation’s payout ratio is 50.76%.
In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation 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 completion of the transaction, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.
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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