Gilder Gagnon Howe & Co. LLC Cuts Stake in Starbucks Corporation (SBUX)
Gilder Gagnon Howe & Co. LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 32.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,681 shares of the coffee company’s stock after selling 15,261 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Starbucks Corporation were worth $1,850,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at about $122,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at about $140,000. Hanson McClain Inc. increased its holdings in shares of Starbucks Corporation by 21.2% in the 1st quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock valued at $175,000 after purchasing an additional 523 shares during the period. Stelac Advisory Services LLC acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at about $186,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Starbucks Corporation in the 1st quarter valued at about $193,000. Institutional investors own 70.99% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.13% during trading on Friday, reaching $54.93. The company had a trading volume of 7,696,302 shares. The firm’s 50 day moving average price is $55.31 and its 200 day moving average price is $58.06. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The firm has a market capitalization of $79.31 billion, a PE ratio of 27.73 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.
The firm also recently announced 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. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.82%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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Several brokerages recently commented on SBUX. Wedbush reissued a “neutral” rating and issued a $60.00 price target (down previously from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Vetr raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price target for the company in a research note on Thursday, June 8th. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Cleveland Research cut Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. Starbucks Corporation has an average rating of “Buy” and an average target price of $64.64.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the firm’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 completion of the transaction, the director now directly owns 24,000 shares in the company, 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 bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were acquired at an average price 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 approximately $995,400. The disclosure for this purchase 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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