Bremer Trust National Association Has $1.83 Million Stake in Starbucks Corporation (SBUX)
Bremer Trust National Association lowered its position in Starbucks Corporation (NASDAQ:SBUX) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,399 shares of the coffee company’s stock after selling 1,965 shares during the period. Bremer Trust National Association’s holdings in Starbucks Corporation were worth $1,831,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in SBUX. CGOV Asset Management raised its holdings in shares of Starbucks Corporation by 5.1% in the first quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock valued at $88,920,000 after purchasing an additional 55,405 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its position in Starbucks Corporation by 5.3% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 38,650 shares of the coffee company’s stock valued at $2,257,000 after buying an additional 1,945 shares during the period. V Wealth Management LLC grew its position in Starbucks Corporation by 6.8% during the first quarter. V Wealth Management LLC now owns 6,496 shares of the coffee company’s stock valued at $383,000 after buying an additional 414 shares during the period. Candriam Luxembourg S.C.A. grew its position in Starbucks Corporation by 36.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 165,379 shares of the coffee company’s stock valued at $9,657,000 after buying an additional 43,736 shares during the period. Finally, Nationwide Fund Advisors grew its position in Starbucks Corporation by 14.0% during the first quarter. Nationwide Fund Advisors now owns 737,154 shares of the coffee company’s stock valued at $43,042,000 after buying an additional 90,478 shares during the period. Institutional investors own 70.99% of the company’s stock.
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SBUX has been the subject of several research reports. Cowen and Company restated a “buy” rating and set a $63.00 price target on shares of Starbucks Corporation in a research report on Friday, September 1st. Wedbush upgraded shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $57.00 to $60.00 in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Vetr upgraded shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 price target for the company in a research report on Thursday, June 22nd. Finally, Mizuho restated a “buy” rating and set a $75.00 price target on shares of Starbucks Corporation in a research report on Thursday, July 6th. Thirteen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.64.
Starbucks Corporation (SBUX) traded up 0.26% on Friday, hitting $54.67. 10,744,783 shares of the company’s stock traded hands. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The stock has a 50 day moving average price of $54.15 and a 200-day moving average price of $57.87. The stock has a market cap of $78.94 billion, a P/E ratio of 27.60 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Equities analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders 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 dividend yield of 1.83%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Culver sold 64,776 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Starbucks Corporation 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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