Starbucks Corporation (SBUX) Shares Bought by Wrapmanager Inc.
Wrapmanager Inc. raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,422 shares of the coffee company’s stock after buying an additional 717 shares during the period. Wrapmanager Inc.’s holdings in Starbucks Corporation were worth $609,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Abbrea Capital LLC acquired a new stake in shares of Starbucks Corporation during the fourth quarter valued at approximately $362,000. Van ECK Associates Corp raised its stake in shares of Starbucks Corporation by 9.1% in the fourth quarter. Van ECK Associates Corp now owns 398,738 shares of the coffee company’s stock valued at $22,138,000 after buying an additional 33,218 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Starbucks Corporation by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 327,951 shares of the coffee company’s stock valued at $18,208,000 after buying an additional 6,662 shares during the last quarter. Horizon Investments LLC acquired a new stake in shares of Starbucks Corporation during the fourth quarter valued at approximately $652,000. Finally, State Street Corp raised its stake in shares of Starbucks Corporation 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 last quarter. 71.12% of the stock is currently owned by institutional investors.
Shares of Starbucks Corporation (SBUX) opened at 58.96 on Wednesday. The stock has a market cap of $85.38 billion, a P/E ratio of 29.16 and a beta of 0.76. The company has a 50 day moving average price of $61.50 and a 200 day moving average price of $58.38. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. Starbucks Corporation had a return on equity of 51.65% and a net margin of 13.47%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Analysts anticipate that Starbucks Corporation will post $2.11 earnings per share for the current fiscal year.
Several analysts have commented on the company. Vetr lowered Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 price objective on the stock. in a report on Thursday, May 25th. Mizuho assumed coverage on Starbucks Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $75.00 price objective on the stock. Sanford C. Bernstein reissued a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a report on Tuesday, June 13th. Finally, OTR Global lowered Starbucks Corporation to a “positive” rating in a report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-five have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.30.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 363,343 shares in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. Insiders sold a total of 144,826 shares of company stock worth $8,642,454 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.
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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