Telemus Capital LLC Buys 71 Shares of Starbucks Corporation (SBUX)
Telemus Capital LLC increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,653 shares of the coffee company’s stock after purchasing an additional 71 shares during the quarter. Telemus Capital LLC’s holdings in Starbucks Corporation were worth $563,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CGOV Asset Management increased its holdings in Starbucks Corporation by 5.1% during the 1st quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock worth $88,920,000 after acquiring an additional 55,405 shares during the period. Waldron LP lifted its stake in Starbucks Corporation by 44.8% in the 1st quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock worth $1,057,000 after purchasing an additional 5,604 shares in the last quarter. Valicenti Advisory Services Inc. lifted its stake in Starbucks Corporation by 1.6% in the 1st quarter. Valicenti Advisory Services Inc. now owns 80,297 shares of the coffee company’s stock worth $4,689,000 after purchasing an additional 1,257 shares in the last quarter. Palo Capital Inc. lifted its stake in Starbucks Corporation by 1.9% in the 1st quarter. Palo Capital Inc. now owns 22,662 shares of the coffee company’s stock worth $1,323,000 after purchasing an additional 419 shares in the last quarter. Finally, Dillon & Associates Inc. lifted its stake in Starbucks Corporation by 1.5% in the 1st quarter. Dillon & Associates Inc. now owns 115,390 shares of the coffee company’s stock worth $6,693,000 after purchasing an additional 1,723 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.
Several research analysts have commented on the stock. Cowen and Company reissued a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a report on Friday, September 1st. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated an “average” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, Guggenheim downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus price target of $64.33.
Shares of Starbucks Corporation (NASDAQ SBUX) opened at 53.99 on Wednesday. The stock has a market capitalization of $77.96 billion, a P/E ratio of 27.25 and a beta of 0.78. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The stock has a 50 day moving average of $54.24 and a 200-day moving average of $57.80.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during 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%. Starbucks Corporation’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Analysts predict that Starbucks Corporation will post $2.06 EPS for the current fiscal year.
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In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’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 sale, the insider now directly owns 390,341 shares in the company, valued at approximately $20,898,857.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction on 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 sale, the director now owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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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