Chickasaw Capital Management LLC lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,760 shares of the coffee company’s stock after buying an additional 1,550 shares during the period. Chickasaw Capital Management LLC’s holdings in Starbucks Corporation were worth $2,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Appropriate Balance Financial Services Inc. increased 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 during the last quarter. Union Bankshares Corp increased its holdings in Starbucks Corporation by 0.4% in the 2nd quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock valued at $204,000 after purchasing an additional 14 shares during the last quarter. Vaughan David Investments Inc. IL increased its holdings in Starbucks Corporation by 0.6% in the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after purchasing an additional 26 shares during the last quarter. CWM LLC increased its holdings in Starbucks Corporation by 0.6% in the 2nd quarter. CWM LLC now owns 5,279 shares of the coffee company’s stock valued at $308,000 after purchasing an additional 30 shares during the last quarter. Finally, Ingalls & Snyder LLC increased its holdings in Starbucks Corporation by 1.1% in the 1st quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock valued at $223,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 70.99% of the company’s stock.
Several analysts recently weighed in on SBUX shares. Cowen and Company reiterated a “buy” rating and issued a $63.00 target price on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated an “average” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. Finally, Guggenheim downgraded shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Twelve research 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 stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus price target of $64.64.
In related news, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction 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 owns 24,000 shares in the company, valued at $1,455,120. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
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Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.02 on Tuesday. The stock has a market capitalization of $78.00 billion, a PE ratio of 27.27 and a beta of 0.78. The company has a 50-day moving average of $54.65 and a 200-day moving average of $57.99. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ 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 for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the firm posted $0.49 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. Starbucks Corporation’s dividend payout ratio (DPR) is 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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