Gateway Investment Advisers LLC Sells 1,050 Shares of Starbucks Corporation (SBUX)
Gateway Investment Advisers LLC trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,490 shares of the coffee company’s stock after selling 1,050 shares during the period. Gateway Investment Advisers LLC’s holdings in Starbucks Corporation were worth $6,443,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. First Financial Bank Trust Division lifted its holdings in Starbucks Corporation by 14.3% in the 2nd quarter. First Financial Bank Trust Division now owns 76,068 shares of the coffee company’s stock valued at $4,435,000 after purchasing an additional 9,525 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in Starbucks Corporation by 6.5% in the 2nd quarter. GW&K Investment Management LLC now owns 241,645 shares of the coffee company’s stock valued at $14,090,000 after purchasing an additional 14,712 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in Starbucks Corporation by 49.9% in the 2nd quarter. Confluence Investment Management LLC now owns 708,542 shares of the coffee company’s stock valued at $41,315,000 after purchasing an additional 235,920 shares in the last quarter. Lincoln Capital LLC lifted its holdings in Starbucks Corporation by 0.5% in the 2nd quarter. Lincoln Capital LLC now owns 153,309 shares of the coffee company’s stock valued at $8,939,000 after purchasing an additional 744 shares in the last quarter. Finally, Tompkins Financial Corp lifted its holdings in Starbucks Corporation by 0.8% in the 2nd quarter. Tompkins Financial Corp now owns 21,128 shares of the coffee company’s stock valued at $1,232,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Culver sold 64,776 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 390,341 shares in the company, 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 insiders.
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Starbucks Corporation (SBUX) traded up 0.15% during midday trading on Friday, reaching $55.09. The company’s stock had a trading volume of 6,950,029 shares. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The firm has a 50 day moving average price of $54.19 and a 200 day moving average price of $57.85. The firm has a market capitalization of $79.54 billion, a PE ratio of 27.81 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
SBUX has been the topic of a number of recent research reports. Mizuho initiated coverage on shares of Starbucks Corporation in a report on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price on the stock. Vetr upgraded shares of 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. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a report on Monday, June 12th. Royal Bank Of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Tuesday, June 13th. Finally, Wedbush lowered shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $65.00 in a report on Wednesday, June 14th. They noted that the move was a valuation call. Thirteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus rating of “Buy” and an average 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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