Trustmark National Bank Trust Department Invests $2.08 Million in Starbucks Corporation (SBUX)
Trustmark National Bank Trust Department purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 35,618 shares of the coffee company’s stock, valued at approximately $2,077,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ithaka Group LLC boosted its stake in Starbucks Corporation by 0.8% during the second quarter. Ithaka Group LLC now owns 369,513 shares of the coffee company’s stock worth $21,546,000 after acquiring an additional 2,979 shares in the last quarter. Van ECK Associates Corp boosted its stake in Starbucks Corporation by 5.3% during the second quarter. Van ECK Associates Corp now owns 511,621 shares of the coffee company’s stock worth $29,833,000 after acquiring an additional 25,939 shares in the last quarter. Abbot Financial Management Inc. bought a new stake in Starbucks Corporation during the second quarter worth about $394,000. Trilogy Global Advisors LP boosted its stake in Starbucks Corporation by 80.0% during the second quarter. Trilogy Global Advisors LP now owns 880,363 shares of the coffee company’s stock worth $51,334,000 after acquiring an additional 391,166 shares in the last quarter. Finally, Pathstone Family Office LLC boosted its stake in Starbucks Corporation by 6.0% during the second quarter. Pathstone Family Office LLC now owns 3,382 shares of the coffee company’s stock worth $2,412,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 71.49% of the company’s stock.
Several research firms recently commented on SBUX. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research note on Friday, July 28th. Instinet reissued a “buy” rating and set a $67.00 price objective (down previously from $70.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. BTIG Research reissued a “buy” rating and set a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday, July 30th. Stephens reissued an “equal weight” rating and set a $52.00 price objective (down previously from $58.00) on shares of Starbucks Corporation in a research note on Friday, September 29th. They noted that the move was a valuation call. Finally, Cowen Inc reissued an “outperform” rating and set a $63.00 price objective (down previously from $66.00) on shares of Starbucks Corporation in a research note on Sunday, July 30th. Twelve investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $63.31.
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In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 36,966 shares of the company’s stock, valued at $1,974,354.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Paul Mutty sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $56.95, for a total transaction of $170,850.00. Following the sale, the senior vice president now directly owns 10,438 shares of the company’s stock, valued at $594,444.10. The disclosure for this sale can be found here. Insiders have sold 525,550 shares of company stock valued at $29,688,442 over the last three months. 3.40% of the stock is owned by corporate insiders.
Starbucks Corporation (NASDAQ SBUX) opened at $57.14 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Starbucks Corporation has a twelve month low of $52.58 and a twelve month high of $64.87. The firm has a market cap of $81,298.80, a P/E ratio of 27.60, a PEG ratio of 1.56 and a beta of 0.72.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The firm’s quarterly revenue was down .2% on a year-over-year basis. analysts anticipate that Starbucks Corporation will post 2.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.10%. This is a boost from Starbucks Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, November 15th. Starbucks Corporation’s payout ratio is presently 60.91%.
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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