Bristlecone Advisors LLC Sells 903 Shares of Starbucks Corporation (SBUX)
Bristlecone Advisors LLC decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,916 shares of the coffee company’s stock after selling 903 shares during the period. Starbucks Corporation makes up 1.1% of Bristlecone Advisors LLC’s portfolio, making the stock its 21st largest position. Bristlecone Advisors LLC’s holdings in Starbucks Corporation were worth $3,031,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Gradient Investments LLC increased its stake in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the period. IHT Wealth Management LLC increased its stake in shares of Starbucks Corporation by 10.2% in 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 period. TrimTabs Asset Management LLC bought a new stake in shares of Starbucks Corporation during the first quarter worth approximately $122,000. Kings Point Capital Management increased its stake in shares of Starbucks Corporation by 22.5% in 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 period. Finally, Quadrant Capital Group LLC increased its stake in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares during the period. Institutional investors own 69.98% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded down 0.08% during mid-day trading on Tuesday, hitting $53.18. 2,037,256 shares of the stock traded hands. The firm’s 50-day moving average price is $57.00 and its 200-day moving average price is $58.25. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The firm has a market cap of $76.79 billion, a P/E ratio of 26.85 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. On average, equities analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is 50.76%.
SBUX has been the subject of a number of recent research reports. Jefferies Group LLC reiterated an “average” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, April 18th. Vetr downgraded Starbucks Corporation 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. Stifel Nicolaus upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Wednesday, April 19th. They noted that the move was a valuation call. Finally, UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation presently has an average rating of “Buy” and a consensus price target of $64.93.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now owns 18,000 shares in the company, valued at approximately $995,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $6,827,553.96. Following the completion of the transaction, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
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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