CMH Wealth Management LLC Has $1.36 Million Position in Starbucks Corporation (SBUX)
CMH Wealth Management LLC boosted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,210 shares of the coffee company’s stock after buying an additional 1,470 shares during the period. CMH Wealth Management LLC’s holdings in Starbucks Corporation were worth $1,361,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of SBUX. Jacobi Capital Management LLC increased its stake in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Starbucks Corporation by 2.5% in the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after buying an additional 46 shares during the last quarter. Sharkey Howes & Javer increased its stake in shares of Starbucks Corporation by 8.5% in the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after buying an additional 150 shares during the last quarter. IHT Wealth Management LLC increased its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after buying an additional 187 shares during the last quarter. Finally, TrimTabs Asset Management LLC purchased a new stake in shares of Starbucks Corporation during the first quarter valued at approximately $122,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
Starbucks Corporation (NASDAQ SBUX) traded up 0.449% during mid-day trading on Thursday, hitting $54.765. 2,905,335 shares of the stock were exchanged. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a market capitalization of $79.08 billion, a PE ratio of 27.645 and a beta of 0.80. The stock’s 50-day moving average is $55.81 and its 200 day moving average is $58.10.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 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 the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. On average, analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.83%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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Several equities research analysts have commented on SBUX shares. Jefferies Group LLC reaffirmed an “average” rating and issued a $65.00 target price on shares of Starbucks Corporation in a research note on Friday, July 28th. BidaskClub downgraded shares of Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Deutsche Bank AG raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $59.00 to $69.00 in a research note on Monday, May 15th. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. Finally, Stifel Nicolaus raised shares of Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.64.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were acquired 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 directly owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now directly owns 24,000 shares in the company, valued at $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
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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