Arizona State Retirement System raised its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 407,638 shares of the coffee company’s stock after purchasing an additional 700 shares during the period. Arizona State Retirement System’s holdings in Starbucks Corporation were worth $23,802,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Bank of New York Mellon Corp lifted its holdings in shares of Starbucks Corporation by 7.8% during the 1st quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Starbucks Corporation by 32.9% during the 1st quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the period. Swiss National Bank lifted its holdings in shares of Starbucks Corporation by 24.0% during the 1st quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after buying an additional 1,099,100 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Starbucks Corporation by 9.3% during the 1st quarter. Russell Investments Group Ltd. now owns 3,352,860 shares of the coffee company’s stock valued at $195,747,000 after buying an additional 286,081 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Starbucks Corporation by 0.6% during the 1st quarter. Rhumbline Advisers now owns 2,383,016 shares of the coffee company’s stock valued at $139,144,000 after buying an additional 13,988 shares during the period. Institutional investors and hedge funds own 70.99% of the company’s stock.
In related news, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the transaction, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Starbucks Corporation (NASDAQ SBUX) traded up 0.26% during mid-day trading on Friday, hitting $54.67. 10,744,783 shares of the stock traded hands. The stock has a 50-day moving average price of $54.15 and a 200-day moving average price of $57.87. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The stock has a market cap of $78.94 billion, a P/E ratio of 27.60 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. 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 12.93% and a return on equity of 52.82%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.83%. Starbucks Corporation’s payout ratio is currently 50.76%.
Several equities analysts have recently weighed in on SBUX shares. Jefferies Group LLC reissued an “average” rating and set a $65.00 price target on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $70.00 price target on Starbucks Corporation and gave the company a “buy” rating in a report on Wednesday, June 28th. BidaskClub cut Starbucks Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a report on Monday, June 12th. Finally, Vetr raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a report on Thursday, June 8th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target 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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