Shelton Capital Management Acquires 103,256 Shares of Starbucks Corporation (SBUX)
Shelton Capital Management lifted its holdings in Starbucks Corporation (NASDAQ:SBUX) by 104.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,191 shares of the coffee company’s stock after acquiring an additional 103,256 shares during the period. Starbucks Corporation makes up 0.8% of Shelton Capital Management’s portfolio, making the stock its 28th biggest position. Shelton Capital Management’s holdings in Starbucks Corporation were worth $11,806,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SBUX. Ameriprise Financial Inc. increased its position in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after acquiring an additional 3,511,080 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after acquiring an additional 2,234,324 shares in the last quarter. State Street Corp increased its position in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after acquiring an additional 1,598,669 shares in the last quarter. Swiss National Bank increased its position in shares of Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock worth $331,722,000 after acquiring an additional 1,099,100 shares in the last quarter. Finally, Haverford Trust Co. acquired a new stake in shares of Starbucks Corporation in the first quarter worth $49,787,000. 70.99% of the stock is owned by institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 0.04% during mid-day trading on Friday, reaching $53.49. 11,774,483 shares of the company traded hands. The stock’s 50 day moving average is $54.75 and its 200 day moving average is $57.98. The stock has a market capitalization of $77.23 billion, a PE ratio of 27.00 and a beta of 0.78. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. Starbucks Corporation also saw some unusual options trading activity on Thursday. Stock investors bought 11,653 put options on the stock. This represents an increase of approximately 132% compared to the typical daily volume of 5,014 put options.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS 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 company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the transaction, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the stock. Vetr lowered shares of Starbucks Corporation 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. Mizuho assumed coverage on shares of Starbucks Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $75.00 price objective for the company. Sanford C. Bernstein reissued a “buy” rating and issued a $67.00 price objective on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, Wedbush lowered shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $65.00 in a research report on Wednesday, June 14th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $64.64.
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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