Signaturefd LLC Increases Position in Starbucks Corporation (NASDAQ:SBUX)
Signaturefd LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 24.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,820 shares of the coffee company’s stock after buying an additional 1,528 shares during the period. Signaturefd LLC’s holdings in Starbucks Corporation were worth $457,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Level Four Advisory Services LLC boosted its position in shares of Starbucks Corporation by 19.8% in the first quarter. Level Four Advisory Services LLC now owns 49,757 shares of the coffee company’s stock worth $2,899,000 after buying an additional 8,237 shares during the last quarter. State Street Corp boosted its position in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Starbucks Corporation during the first quarter worth approximately $479,000. Keel Point LLC boosted its position in shares of Starbucks Corporation by 1.4% in the first quarter. Keel Point LLC now owns 4,881 shares of the coffee company’s stock worth $285,000 after buying an additional 68 shares during the last quarter. Finally, MEMBERS Trust Co purchased a new position in shares of Starbucks Corporation during the first quarter worth approximately $577,000. Institutional investors own 69.85% of the company’s stock.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.21% during trading on Friday, reaching $53.18. The company’s stock had a trading volume of 9,235,033 shares. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a 50-day moving average of $57.19 and a 200 day moving average of $58.29. The firm has a market cap of $76.79 billion, a PE ratio of 26.85 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. Analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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A number of brokerages have recently commented on SBUX. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and increased their price target for the company from $54.52 to $64.00 in a research note on Wednesday. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and set a $63.00 target price (down from $66.00) on shares of Starbucks Corporation in a research report on Sunday, July 30th. Finally, BTIG Research reaffirmed a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $64.93.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the sale, the director now owns 24,000 shares in the company, valued at $1,455,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the sale, the insider now owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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