Capital Asset Advisory Services LLC acquired a new position in Starbucks Corporation (NASDAQ:SBUX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,295 shares of the coffee company’s stock, valued at approximately $659,000.
Other institutional investors have also made changes to their positions in the company. Jacobi Capital Management LLC lifted its stake in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares in the last quarter. TrimTabs Asset Management LLC purchased a new stake in Starbucks Corporation in the 1st quarter worth about $122,000. Kings Point Capital Management lifted its stake in Starbucks Corporation by 22.5% in the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after acquiring an additional 425 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in Starbucks Corporation in the 1st quarter worth about $140,000. 70.82% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $60.00 price objective (down from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Vetr raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective for the company in a research note on Thursday, June 8th. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Cleveland Research downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 23rd. Thirteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.64.
In related news, insider John Culver sold 64,776 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the sale, the director now directly owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.137% during trading on Monday, hitting $54.745. The company had a trading volume of 2,417,523 shares. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a 50-day moving average of $54.15 and a 200 day moving average of $57.87. The company has a market capitalization of $79.05 billion, a price-to-earnings ratio of 27.635 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. Equities analysts forecast that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given 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 was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
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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