Vista Capital Partners Inc. Sells 1,667 Shares of Starbucks Corporation (SBUX)
Vista Capital Partners Inc. reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,653 shares of the coffee company’s stock after selling 1,667 shares during the quarter. Starbucks Corporation accounts for about 0.3% of Vista Capital Partners Inc.’s investment portfolio, making the stock its 9th biggest holding. Vista Capital Partners Inc.’s holdings in Starbucks Corporation were worth $1,146,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its stake in shares of Starbucks Corporation by 2.7% in the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after acquiring an additional 50 shares during the period. IHT Wealth Management LLC grew its stake in shares of Starbucks Corporation by 10.2% in the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after acquiring an additional 187 shares during the period. TrimTabs Asset Management LLC bought a new stake in shares of Starbucks Corporation in the first quarter worth approximately $122,000. Kings Point Capital Management grew its stake in shares of Starbucks Corporation by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after acquiring an additional 425 shares during the period. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Starbucks Corporation in the first quarter worth approximately $140,000. Institutional investors and hedge funds own 70.82% of the company’s stock.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now 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 company insiders.
Shares of Starbucks Corporation (SBUX) traded up 0.15% during mid-day trading on Friday, hitting $55.09. 6,950,029 shares of the stock were exchanged. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The stock has a market cap of $79.54 billion, a price-to-earnings ratio of 27.81 and a beta of 0.78. The company has a 50-day moving average price of $54.19 and a 200-day moving average price of $57.85.
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 analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. Equities analysts expect that Starbucks Corporation will post $2.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
A number of brokerages have recently commented on SBUX. Wedbush reiterated a “neutral” rating and issued a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a research note on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Vetr upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 price target for the company in a research note on Thursday, June 8th. BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Cleveland Research lowered shares of Starbucks Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 23rd. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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