Curbstone Financial Management Corp Has $437,000 Position in Starbucks Corporation (SBUX)
Curbstone Financial Management Corp lowered its holdings in Starbucks Corporation (NASDAQ:SBUX) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,502 shares of the coffee company’s stock after selling 95 shares during the quarter. Curbstone Financial Management Corp’s holdings in Starbucks Corporation were worth $437,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC increased its stake in 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 acquiring an additional 50 shares during the period. IHT Wealth Management LLC increased its stake in 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 acquiring an additional 187 shares during the period. TrimTabs Asset Management LLC bought a new stake in Starbucks Corporation in the first quarter valued at about $122,000. Kings Point Capital Management increased its stake in Starbucks Corporation by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock valued at $135,000 after acquiring an additional 425 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Starbucks Corporation in the first quarter valued at about $140,000. 70.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were bought 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 disclosure for this purchase can be found here. 3.40% of the stock is currently owned by insiders.
A number of analysts recently weighed in on SBUX shares. Vetr cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price on the stock. in a research note on Thursday, May 25th. Mizuho started coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price on the stock. Sanford C. Bernstein reissued a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, June 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, June 13th. Finally, Wedbush cut shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and upped their target price for the company from $61.00 to $65.00 in a research note on Wednesday, June 14th. They noted that the move was a valuation call. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $64.64.
Starbucks Corporation (SBUX) traded up 0.26% during midday trading on Friday, reaching $54.67. 10,744,783 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $54.15 and its 200 day moving average price is $57.87. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The firm has a market cap of $78.94 billion, a price-to-earnings ratio of 27.60 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.55. The firm 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 for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. Equities research analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a $0.25 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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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