RB Capital Management LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,508 shares of the coffee company’s stock after purchasing an additional 701 shares during the period. Starbucks Corporation accounts for 2.5% of RB Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. RB Capital Management LLC’s holdings in Starbucks Corporation were worth $2,945,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Jacobi Capital Management LLC boosted its stake in Starbucks Corporation by 2.7% during the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares during the period. IHT Wealth Management LLC boosted its stake in Starbucks Corporation by 10.2% during the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares during the period. TrimTabs Asset Management LLC acquired a new stake in Starbucks Corporation during the 1st quarter worth $122,000. Kings Point Capital Management boosted its stake in Starbucks Corporation by 22.5% during the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after purchasing an additional 425 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Starbucks Corporation during the 1st quarter worth $140,000. Hedge funds and other institutional investors own 70.82% of the company’s stock.
SBUX has been the subject of a number of recent research reports. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a research note on Monday, June 12th. Cowen and Company reiterated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a research note on Friday, July 21st. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Thirteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus price target of $64.64.
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Starbucks Corporation (NASDAQ SBUX) traded up 0.73% during midday trading on Wednesday, hitting $55.02. 2,740,821 shares of the company’s stock traded hands. The company has a 50 day moving average of $54.19 and a 200-day moving average of $57.85. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a market capitalization of $79.44 billion, a PE ratio of 27.77 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations 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 was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities research analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. Starbucks Corporation’s payout ratio is currently 50.76%.
In related news, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of the company’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 value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
About Starbucks Corporation
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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