Impala Asset Management LLC Takes $919,000 Position in Starbucks Corporation (SBUX)

Impala Asset Management LLC acquired a new position in shares of Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,769 shares of the coffee company’s stock, valued at approximately $919,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Appropriate Balance Financial Services Inc. boosted its position in shares of Starbucks Corporation by 1.6% during the second 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 period. Union Bankshares Corp boosted its position in shares of Starbucks Corporation by 0.4% during the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after buying an additional 14 shares during the period. Vaughan David Investments Inc. IL boosted its position in shares of Starbucks Corporation by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock worth $271,000 after buying an additional 26 shares during the period. Spectrum Management Group Inc. boosted its position in shares of Starbucks Corporation by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock worth $620,000 after buying an additional 30 shares during the period. Finally, Ingalls & Snyder LLC boosted its position in shares of Starbucks Corporation by 1.1% during the first quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock worth $223,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 71.49% of the company’s stock.

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Several equities analysts have recently issued reports on SBUX shares. Jefferies Group LLC reiterated 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 $67.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. BTIG Research reiterated a “buy” rating and set a $64.00 price objective on shares of Starbucks Corporation in a research report on Sunday, July 30th. Bank of America Corporation restated a “buy” rating and issued a $65.00 target price (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, Instinet restated a “buy” rating and issued a $67.00 target price (down from $70.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and an average price target of $63.31.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at $56.81 on Tuesday. The stock has a market cap of $81,880.00, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a fifty-two week low of $52.58 and a fifty-two week high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. Starbucks Corporation’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, November 15th. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. Starbucks Corporation’s dividend payout ratio is currently 60.91%.

In related news, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total value of $170,850.00. Following the completion of the sale, the senior vice president now directly owns 10,438 shares in the company, valued at $594,444.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total transaction of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares of the company’s stock, valued at $1,703,632,324.92. The disclosure for this sale can be found here. Insiders sold 443,884 shares of company stock valued at $25,041,780 over the last quarter. 3.40% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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