Simonbaker & Partners LLC Buys 150 Shares of Starbucks Corporation (SBUX)
Simonbaker & Partners LLC lifted its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,150 shares of the coffee company’s stock after acquiring an additional 150 shares during the quarter. Simonbaker & Partners LLC’s holdings in Starbucks Corporation were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. purchased a new stake in shares of Starbucks Corporation during the first quarter worth $838,000. Shelton Capital Management grew its stake in shares of Starbucks Corporation by 104.4% during the first quarter. Shelton Capital Management now owns 202,191 shares of the coffee company’s stock worth $11,806,000 after purchasing an additional 103,256 shares in the last quarter. National Asset Management Inc. grew its stake in shares of Starbucks Corporation by 8.0% during the first quarter. National Asset Management Inc. now owns 56,010 shares of the coffee company’s stock worth $3,274,000 after purchasing an additional 4,169 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Starbucks Corporation by 26.6% during the first quarter. AQR Capital Management LLC now owns 779,411 shares of the coffee company’s stock worth $45,510,000 after purchasing an additional 163,841 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Starbucks Corporation by 24.3% during the first quarter. Signaturefd LLC now owns 7,820 shares of the coffee company’s stock worth $457,000 after purchasing an additional 1,528 shares in the last quarter. 70.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (SBUX) traded up 0.04% on Friday, reaching $53.49. 11,774,483 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $54.75 and its 200-day moving average price is $57.98. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The company has a market capitalization of $77.23 billion, a P/E ratio of 27.00 and a beta of 0.78. Starbucks Corporation also saw unusually large options trading activity on Thursday. Stock investors acquired 11,653 put options on the company. This is an increase of 132% compared to the average daily volume of 5,014 put options.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates 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 for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
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SBUX has been the subject of a number of analyst reports. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, June 12th. Cowen and Company reiterated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research note on Friday, July 21st. UBS AG set a $70.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BTIG Research reiterated a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $64.64.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction dated 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 purchase, the director now owns 18,000 shares in the company, valued at approximately $995,400. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the company’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 sale, 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. Corporate insiders own 3.40% of the company’s stock.
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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