Jasper Ridge Partners L.P. Continues to Hold Stake in Starbucks Co. (SBUX)
Jasper Ridge Partners L.P. continued to hold its position in shares of Starbucks Co. (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the SEC. The firm owned 41,192 shares of the coffee company’s stock at the end of the first quarter. Jasper Ridge Partners L.P.’s holdings in Starbucks were worth $2,405,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SBUX. Integrated Wealth Management increased its position in shares of Starbucks 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 in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Starbucks by 8.3% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 10,622 shares of the coffee company’s stock valued at $620,000 after buying an additional 812 shares in the last quarter. Merriman Wealth Management LLC increased its position in shares of Starbucks by 17.9% in the first quarter. Merriman Wealth Management LLC now owns 24,293 shares of the coffee company’s stock valued at $1,418,000 after buying an additional 3,683 shares in the last quarter. Norway Savings Bank increased its position in shares of Starbucks by 1.7% in the first quarter. Norway Savings Bank now owns 6,525 shares of the coffee company’s stock valued at $381,000 after buying an additional 110 shares in the last quarter. Finally, Viking Fund Management LLC increased its position in shares of Starbucks by 17.6% in the first quarter. Viking Fund Management LLC now owns 20,000 shares of the coffee company’s stock valued at $1,168,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 70.99% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) traded up 0.490% during trading on Wednesday, reaching $54.365. 1,416,064 shares of the company’s stock traded hands. Starbucks Co. has a 12 month low of $50.84 and a 12 month high of $64.87. The firm has a 50 day moving average price of $55.81 and a 200-day moving average price of $58.10. The firm has a market cap of $78.50 billion, a PE ratio of 27.443 and a beta of 0.80.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks had a return on equity of 48.46% and a net margin of 12.21%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the company posted $0.49 earnings per share. Starbucks’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post $2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks’s payout ratio is presently 50.76%.
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SBUX has been the subject of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Starbucks in a research report on Friday, May 12th. Stifel Nicolaus upgraded Starbucks to a “buy” rating in a research report on Saturday, May 13th. UBS AG set a $70.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Saturday, May 13th. Deutsche Bank AG upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $59.00 to $69.00 in a research report on Monday, May 15th. Finally, Vetr downgraded Starbucks from a “buy” rating to a “hold” rating and set a $65.15 price objective for the company. in a research report on Thursday, May 25th. One 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 assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $64.64.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the business’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 value 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 $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
Starbucks 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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