Schroder Investment Management Group trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,908,470 shares of the coffee company’s stock after selling 312,167 shares during the period. Schroder Investment Management Group owned approximately 0.13% of Starbucks Corporation worth $110,997,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 2,234,324 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in 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 purchasing an additional 3,511,080 shares during the last quarter. Swiss National Bank boosted its stake in 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 purchasing an additional 1,099,100 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in 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 purchasing an additional 286,081 shares during the last quarter. 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 other news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total value of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 0.26% during mid-day trading on Friday, reaching $54.67. 10,744,783 shares of the company’s stock traded hands. The stock has a market capitalization of $78.94 billion, a PE ratio of 27.60 and a beta of 0.78. The company’s 50-day moving average price is $54.15 and its 200-day moving average price is $57.87. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87.
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. Analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Starbucks Corporation’s dividend payout ratio (DPR) is 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 reissued a “buy” rating and set a $67.00 price target 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 price target on the stock in a report on Thursday, June 8th. Thirteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average 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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