Starbucks Corporation (SBUX) Position Lowered by Wagner Bowman Management Corp
Wagner Bowman Management Corp lowered its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 27,877 shares of the coffee company’s stock after selling 150 shares during the period. Wagner Bowman Management Corp’s holdings in Starbucks Corporation were worth $1,625,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Alpha Windward LLC boosted its stake in shares of Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Starbucks Corporation by 2.2% in the first quarter. Private Trust Co. NA now owns 35,573 shares of the coffee company’s stock valued at $2,077,000 after buying an additional 758 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Starbucks Corporation by 14.0% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 5,269 shares of the coffee company’s stock valued at $308,000 after buying an additional 649 shares in the last quarter. Banced Corp boosted its stake in shares of Starbucks Corporation by 3.6% in the first quarter. Banced Corp now owns 9,488 shares of the coffee company’s stock valued at $554,000 after buying an additional 330 shares in the last quarter. Finally, Horan Capital Management bought a new stake in shares of Starbucks Corporation during the first quarter valued at about $1,098,000. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Starbucks Corporation (SBUX) traded down 1.159% during mid-day trading on Wednesday, hitting $53.819. 5,997,457 shares of the stock traded hands. The stock has a market cap of $77.71 billion, a PE ratio of 27.168 and a beta of 0.80. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The company has a 50 day moving average of $56.17 and a 200-day moving average of $58.18.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. Equities research analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently declared 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 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
SBUX has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Guggenheim cut shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a report on Friday, July 28th. Piper Jaffray Companies restated a “buy” rating and issued a $70.00 target price on shares of Starbucks Corporation in a report on Friday, July 14th. Finally, Vetr cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $63.91 target price on the stock. in a report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.64.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction 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 sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was bought 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 of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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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