Howard Hughes Medical Institute raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 120.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,681 shares of the coffee company’s stock after buying an additional 32,611 shares during the period. Howard Hughes Medical Institute’s holdings in Starbucks Corporation were worth $3,485,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in Starbucks Corporation during the fourth quarter valued at $16,059,000. Gradient Investments LLC boosted its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the last quarter. Fusion Family Wealth LLC bought a new position in shares of Starbucks Corporation during the fourth quarter worth about $123,000. Cascade Investment Advisors Inc. bought a new position in shares of Starbucks Corporation during the fourth quarter worth about $131,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares during the last quarter. 71.12% of the stock is currently owned by hedge funds and other institutional investors.
Starbucks Corporation (NASDAQ:SBUX) traded up 1.26% during trading on Monday, reaching $60.90. 6,778,024 shares of the company’s stock traded hands. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a 50-day moving average price of $61.48 and a 200 day moving average price of $58.34. The stock has a market capitalization of $88.19 billion, a P/E ratio of 30.12 and a beta of 0.76.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.42 billion. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Equities research analysts expect that Starbucks Corporation will post $2.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Tuesday, May 9th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 49.75%.
Several research analysts have recently weighed in on the company. Stifel Nicolaus set a $66.00 price target on Starbucks Corporation and gave the stock a “buy” rating in a research note on Friday, April 28th. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a report on Monday, June 12th. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Starbucks Corporation in a research note on Monday, March 13th. Telsey Advisory Group initiated coverage on Starbucks Corporation in a research note on Monday, March 27th. They issued an “outperform” rating and a $66.00 price objective for the company. Finally, Mizuho initiated coverage on Starbucks Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $65.15.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $60.43, for a total transaction of $1,208,600.00. Following the sale, the director now directly owns 34,000 shares in the company, valued at approximately $2,054,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now owns 24,000 shares in the company, valued at $1,455,120. The disclosure for this sale can be found here. Insiders sold a total of 144,826 shares of company stock valued at $8,642,454 over the last ninety days. Company insiders own 3.40% of the company’s stock.
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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