Forsta AP Fonden Increases Stake in Starbucks Corporation (SBUX)
Forsta AP Fonden boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 27.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,443 shares of the coffee company’s stock after buying an additional 21,400 shares during the period. Forsta AP Fonden’s holdings in Starbucks Corporation were worth $5,799,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. CrestPoint Capital Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth about $222,000. Regentatlantic Capital LLC boosted its position in shares of Starbucks Corporation by 13.9% in the first quarter. Regentatlantic Capital LLC now owns 7,444 shares of the coffee company’s stock worth $435,000 after buying an additional 907 shares in the last quarter. Gradient Investments LLC boosted its position 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 in the last quarter. Stillwater Investment Management LLC boosted its position in shares of Starbucks Corporation by 0.4% in the first quarter. Stillwater Investment Management LLC now owns 40,404 shares of the coffee company’s stock worth $2,359,000 after buying an additional 176 shares in the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in shares of Starbucks Corporation by 17.4% in the first quarter. Carroll Financial Associates Inc. now owns 5,523 shares of the coffee company’s stock worth $322,000 after buying an additional 818 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded down 0.55% during trading on Friday, reaching $52.75. 4,764,537 shares of the company’s stock traded hands. The company has a market cap of $76.17 billion, a P/E ratio of 26.63 and a beta of 0.80. The firm’s 50 day moving average is $56.48 and its 200 day moving average is $58.15. 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, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s payout ratio is presently 50.76%.
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SBUX has been the topic of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. Deutsche Bank AG raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and raised their target price for the stock from $59.00 to $69.00 in a report on Monday, May 15th. Credit Suisse Group raised their target price on shares of Starbucks Corporation from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Vetr raised shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 target price on the stock in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.93.
In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the 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 purchase, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently 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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