LGT Capital Partners LTD. Has $22.95 Million Position in Starbucks Corporation (SBUX)
LGT Capital Partners LTD. increased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 97.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 393,610 shares of the coffee company’s stock after buying an additional 194,120 shares during the period. Starbucks Corporation makes up approximately 2.3% of LGT Capital Partners LTD.’s portfolio, making the stock its 14th largest position. LGT Capital Partners LTD.’s holdings in Starbucks Corporation were worth $22,951,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Regent Investment Management LLC raised its stake in Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock worth $273,000 after buying an additional 300 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares during the period. Zevin Asset Management LLC raised its stake in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares during the period. Sawtooth Solutions LLC raised its stake in Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares during the period. Finally, Toronto Dominion Bank raised its stake in Starbucks Corporation by 52.6% in the first quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock worth $23,332,000 after buying an additional 137,795 shares during the period. 70.99% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Corporation (NASDAQ:SBUX) traded up 0.137% during trading on Friday, hitting $54.935. The company had a trading volume of 3,693,108 shares. The stock has a 50-day moving average of $55.41 and a 200 day moving average of $58.07. The company has a market capitalization of $79.32 billion, a price-to-earnings ratio of 27.731 and a beta of 0.80. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities analysts forecast that Starbucks Corporation will post $2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend 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%.
SBUX has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. Stifel Nicolaus raised Starbucks Corporation to a “buy” rating in a report on Saturday, May 13th. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a report on Saturday, May 13th. Deutsche Bank AG raised Starbucks Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $59.00 to $69.00 in a report on Monday, May 15th. Finally, Vetr lowered Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price on the stock. in a report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $64.64.
In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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