Starbucks Co. (SBUX) Stake Maintained by First Quadrant L P CA
First Quadrant L P CA held its position in Starbucks Co. (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the SEC. The firm owned 80,200 shares of the coffee company’s stock at the end of the first quarter. First Quadrant L P CA’s holdings in Starbucks were worth $4,683,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. State Street Corp raised its position in Starbucks by 3.5% in the fourth quarter. State Street Corp now owns 59,223,992 shares of the coffee company’s stock valued at $3,288,120,000 after buying an additional 1,977,545 shares during the period. Capital World Investors raised its position in Starbucks by 30.3% in the third quarter. Capital World Investors now owns 34,697,636 shares of the coffee company’s stock valued at $1,878,530,000 after buying an additional 8,071,610 shares during the period. Norges Bank acquired a new position in Starbucks during the fourth quarter valued at $680,375,000. Polen Capital Management LLC raised its position in Starbucks by 7.8% in the fourth quarter. Polen Capital Management LLC now owns 9,727,375 shares of the coffee company’s stock valued at $540,064,000 after buying an additional 704,983 shares during the period. Finally, TCW Group Inc. raised its position in Starbucks by 5.5% in the fourth quarter. TCW Group Inc. now owns 3,707,784 shares of the coffee company’s stock valued at $205,856,000 after buying an additional 191,979 shares during the period. 68.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Starbucks Co. (NASDAQ:SBUX) opened at 63.30 on Monday. The company has a market cap of $91.66 billion, a PE ratio of 31.31 and a beta of 0.79. The company has a 50 day moving average of $60.16 and a 200-day moving average of $57.62. Starbucks Co. has a 12-month low of $50.84 and a 12-month high of $63.42.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. Starbucks had a return on equity of 51.45% and a net margin of 13.30%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post $2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 11th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 9th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. Starbucks’s dividend payout ratio is currently 51.28%.
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SBUX has been the subject of several research analyst reports. Vetr lowered Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.50 price objective for the company. in a research report on Tuesday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Starbucks in a research report on Monday, March 13th. Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Starbucks in a research report on Friday, April 28th. Credit Suisse Group AG reissued a “neutral” rating and issued a $55.00 price objective on shares of Starbucks in a research report on Monday, January 30th. Finally, OTR Global lowered Starbucks to a “positive” rating in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $64.71.
In other Starbucks news, Director Myron E. Ullman III sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Starbucks 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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