Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Palo Capital Inc.

Palo Capital Inc. boosted its position in Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,712 shares of the coffee company’s stock after buying an additional 50 shares during the period. Palo Capital Inc.’s holdings in Starbucks Corporation were worth $1,324,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. increased its stake in shares of Starbucks Corporation by 1,321.2% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 93,004 shares of the coffee company’s stock valued at $5,423,000 after buying an additional 86,460 shares during the last quarter. Norway Savings Bank increased its stake in shares of Starbucks Corporation by 1.9% in the second quarter. Norway Savings Bank now owns 6,650 shares of the coffee company’s stock valued at $388,000 after buying an additional 125 shares during the last quarter. Peoples Financial Services CORP. increased its stake in shares of Starbucks Corporation by 2.6% in the second quarter. Peoples Financial Services CORP. now owns 19,560 shares of the coffee company’s stock valued at $1,141,000 after buying an additional 500 shares during the last quarter. Harwood Advisory Group LLC increased its stake in shares of Starbucks Corporation by 106.6% in the second quarter. Harwood Advisory Group LLC now owns 13,015 shares of the coffee company’s stock valued at $759,000 after buying an additional 6,714 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. acquired a new stake in shares of Starbucks Corporation during the second quarter valued at $391,000. 69.55% of the stock is currently owned by institutional investors.

Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 58.11 on Thursday. The company has a 50-day moving average of $60.10 and a 200 day moving average of $58.51. The firm has a market capitalization of $84.15 billion, a P/E ratio of 28.74 and a beta of 0.82. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. Starbucks Corporation also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 14,537 put options on the company. This is an increase of 202% compared to the average daily volume of 4,812 put options.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, April 27th. The coffee company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The business had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post $2.10 earnings per share for the current year.

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Several analysts have weighed in on SBUX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target on shares of Starbucks Corporation in a research report on Friday, May 12th. Zacks Investment Research cut Starbucks Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Deutsche Bank AG reiterated a “hold” rating and set a $59.00 price target on shares of Starbucks Corporation in a research report on Tuesday, April 11th. Finally, Vetr cut Starbucks Corporation from a “buy” rating to a “hold” rating and set a $63.91 price target on the stock. in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-five have given a buy rating and three have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $65.64.

In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the sale, the insider now directly owns 363,343 shares of the company’s stock, valued at approximately $21,604,374.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of the company’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 completion of the sale, the director now directly owns 24,000 shares of the company’s stock, 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. 3.40% of the stock is currently owned by 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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Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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