Starbucks Corporation (SBUX) Stake Lessened by Pillar Pacific Capital Management LLC
Pillar Pacific Capital Management LLC decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,390 shares of the coffee company’s stock after selling 2,750 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Starbucks Corporation were worth $3,755,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SBUX. Magellan Asset Management Ltd boosted its holdings in shares of Starbucks Corporation by 3,809,645.9% during the 1st quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after acquiring an additional 18,667,265 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after acquiring an additional 3,511,080 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Starbucks Corporation by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after acquiring an additional 2,234,324 shares in the last quarter. State Street Corp boosted its holdings in shares of Starbucks Corporation by 2.7% during the 1st quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after acquiring an additional 1,598,669 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Starbucks Corporation by 24.0% during the 1st quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after acquiring an additional 1,099,100 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.
In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.
Shares of Starbucks Corporation (SBUX) opened at 54.69 on Tuesday. The firm’s 50-day moving average price is $54.17 and its 200-day moving average price is $57.86. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a market capitalization of $78.97 billion, a price-to-earnings ratio of 27.61 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (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 firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the business earned $0.49 earnings per share. The business’s revenue 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. 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 payout ratio is 50.76%.
SBUX has been the topic of several recent research reports. Jefferies Group LLC reissued an “average” rating and set a $65.00 price objective on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. BidaskClub downgraded Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Finally, Vetr raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price objective on the stock in a report on Thursday, June 8th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. Starbucks Corporation 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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