Starbucks Corporation (SBUX) Stake Raised by Private Bank & Trust Co.
Private Bank & Trust Co. raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 38.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,201 shares of the coffee company’s stock after buying an additional 12,102 shares during the period. Private Bank & Trust Co.’s holdings in Starbucks Corporation were worth $2,519,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in SBUX. Murphy Capital Management Inc. increased its stake in shares of Starbucks Corporation by 0.4% in the second quarter. Murphy Capital Management Inc. now owns 80,455 shares of the coffee company’s stock valued at $4,691,000 after buying an additional 320 shares in the last quarter. Forsta AP Fonden increased its stake in shares of Starbucks Corporation by 27.4% in the second quarter. Forsta AP Fonden now owns 99,443 shares of the coffee company’s stock valued at $5,799,000 after buying an additional 21,400 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Starbucks Corporation by 22.7% in the second quarter. Farmers & Merchants Investments Inc. now owns 130,945 shares of the coffee company’s stock valued at $7,635,000 after buying an additional 24,212 shares in the last quarter. Investment House LLC increased its position in Starbucks Corporation by 1.7% in the second quarter. Investment House LLC now owns 10,775 shares of the coffee company’s stock valued at $628,000 after buying an additional 175 shares in the last quarter. Finally, Wright Investors Service Inc. increased its position in Starbucks Corporation by 59.4% in the second quarter. Wright Investors Service Inc. now owns 23,164 shares of the coffee company’s stock valued at $1,351,000 after buying an additional 8,630 shares in the last quarter. Institutional investors and hedge funds own 69.98% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded down 0.64% on Friday, hitting $52.70. The stock had a trading volume of 10,370,499 shares. The stock has a 50 day moving average price of $56.32 and a 200 day moving average price of $58.13. The company has a market cap of $76.09 billion, a P/E ratio of 26.60 and a beta of 0.80. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities research analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.90%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
Several equities analysts have commented on the company. Wedbush reiterated a “neutral” rating and issued a $60.00 target price (down from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Vetr upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price for the company in a research report on Thursday, June 8th. BidaskClub upgraded Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus set a $66.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, KeyCorp assumed coverage on Starbucks Corporation in a research report on Thursday, June 22nd. They issued an “overweight” rating and a $68.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $64.93.
In related news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction that occurred on 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 approximately $1,455,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. 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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