MUFG Americas Holdings Corp increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 10.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,247 shares of the coffee company’s stock after buying an additional 25,080 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Starbucks Corporation were worth $14,825,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC grew its holdings in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer grew its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Starbucks Corporation during the first quarter valued at $122,000. 70.77% of the stock is currently owned by hedge funds and other institutional investors.
SBUX has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Bank of America Corporation reissued a “neutral” rating and set a $65.00 price objective on shares of Starbucks Corporation in a report on Thursday, September 14th. Cowen and Company reissued a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a report on Friday, September 1st. Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $57.00 to $60.00 in a report on Friday, August 25th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, October 9th. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.24.
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In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the acquisition, 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 corporate insiders.
Shares of Starbucks Corporation (SBUX) opened at 54.28 on Wednesday. The firm has a 50-day moving average of $54.66 and a 200-day moving average of $57.55. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The firm has a market cap of $78.37 billion, a P/E ratio of 27.40 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
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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