Boltwood Capital Management held its stake in Starbucks Corporation (NASDAQ:SBUX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,760 shares of the coffee company’s stock at the end of the second quarter. Boltwood Capital Management’s holdings in Starbucks Corporation were worth $1,035,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Jacobi Capital Management LLC lifted 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 worth $109,000 after buying an additional 50 shares during the last quarter. IHT Wealth Management LLC lifted 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 worth $117,000 after buying an additional 187 shares during the last quarter. TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth approximately $122,000. Kings Point Capital Management lifted its holdings in shares of Starbucks Corporation by 22.5% during the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after buying an additional 425 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth approximately $140,000. Institutional investors own 70.99% of the company’s stock.
In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were bought at an average cost 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 in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.26% on Friday, reaching $54.67. The company’s stock had a trading volume of 10,744,783 shares. The firm’s 50-day moving average price is $54.15 and its 200 day moving average price is $57.87. The company has a market cap of $78.94 billion, a P/E ratio of 27.60 and a beta of 0.78. 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, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. Equities analysts anticipate 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
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SBUX has been the topic of a number of research reports. Cowen and Company restated a “buy” rating and set a $63.00 price objective on shares of Starbucks Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. UBS AG set a $67.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. 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. Finally, Guggenheim cut Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $64.64.
Starbucks Corporation 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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