Jag Capital Management LLC Sells 76,875 Shares of Starbucks Corporation (SBUX)
Jag Capital Management LLC reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 60.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,930 shares of the coffee company’s stock after selling 76,875 shares during the period. Jag Capital Management LLC’s holdings in Starbucks Corporation were worth $2,911,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Management increased its stake in shares of Starbucks Corporation by 4.7% in the first quarter. Integrated Wealth Management now owns 31,306 shares of the coffee company’s stock valued at $1,828,000 after buying an additional 1,399 shares during the period. Atria Investments LLC increased its stake in shares of Starbucks Corporation by 11.3% in the first quarter. Atria Investments LLC now owns 25,960 shares of the coffee company’s stock valued at $1,516,000 after buying an additional 2,644 shares during the period. Private Bank & Trust Co. increased its stake in shares of Starbucks Corporation by 3.9% in the first quarter. Private Bank & Trust Co. now owns 31,099 shares of the coffee company’s stock valued at $1,816,000 after buying an additional 1,163 shares during the period. Alpha Windward LLC increased 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 during the period. Finally, Private Trust Co. NA increased 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 during the period. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.98% during trading on Friday, hitting $54.47. The company’s stock had a trading volume of 4,522,230 shares. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock has a market cap of $78.65 billion, a PE ratio of 27.50 and a beta of 0.80. The company has a 50-day moving average price of $55.90 and a 200-day moving average price of $58.11.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the 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 business’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. Equities analysts predict that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
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A number of analysts have issued reports on SBUX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research note on Friday, May 12th. UBS AG set a $67.00 price objective on Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Guggenheim downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded Starbucks Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.64.
In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’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 transaction of $606,300.00. Following the completion of the transaction, 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. Company 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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