Advisory Services Network LLC acquired a new position in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,958 shares of the coffee company’s stock, valued at approximately $1,165,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banco Santander S.A. bought a new position in Starbucks Corporation during the fourth quarter worth $3,069,000. Israel Discount Bank of New York GFN bought a new position in Starbucks Corporation during the fourth quarter worth $694,000. Regent Investment Management LLC bought a new position in Starbucks Corporation during the first quarter worth $256,000. GLG LLC increased its position in Starbucks Corporation by 6.8% in the fourth quarter. GLG LLC now owns 82,121 shares of the coffee company’s stock worth $4,559,000 after buying an additional 5,220 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its position in Starbucks Corporation by 3.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 109,129 shares of the coffee company’s stock worth $6,059,000 after buying an additional 3,587 shares in the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
Starbucks Corporation (SBUX) opened at 60.90 on Tuesday. The stock has a 50 day moving average price of $61.51 and a 200 day moving average price of $58.36. The company has a market cap of $88.19 billion, a price-to-earnings ratio of 30.12 and a beta of 0.76. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The company had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post $2.10 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Thursday, May 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 49.75%.
A number of research analysts have weighed in on SBUX shares. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.53 price target for the company in a research note on Monday, March 6th. Credit Suisse Group restated a “neutral” rating on shares of Starbucks Corporation in a research note on Friday, March 10th. Wedbush restated an “outperform” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Monday, March 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Starbucks Corporation in a research note on Monday, March 13th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.15.
In related news, Director Myron E. Ullman III sold 20,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $60.43, for a total value of $1,208,600.00. Following the sale, the director now owns 34,000 shares in the company, valued at $2,054,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the 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 in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders sold 144,826 shares of company stock worth $8,642,454 in the last quarter. 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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