Holderness Investments Co. Invests $379,000 in Starbucks Corporation (NASDAQ:SBUX)

Holderness Investments Co. acquired a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,495 shares of the coffee company’s stock, valued at approximately $379,000.

Several other hedge funds also recently bought and sold shares of SBUX. Gradient Investments LLC boosted its stake in Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the period. Quadrant Capital Group LLC boosted its stake in Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock valued at $137,000 after buying an additional 207 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Starbucks Corporation during the first quarter valued at $140,000. Pinnacle Bank bought a new stake in Starbucks Corporation during the first quarter valued at $146,000. Finally, Alpha Windward LLC boosted its stake in Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 69.98% of the company’s stock.

Shares of Starbucks Corporation (NASDAQ SBUX) traded down 0.64% on Friday, reaching $52.70. 10,370,499 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $56.32 and a 200-day moving average price of $58.13. Starbucks Corporation has a 12-month low of $50.84 and a 12-month high of $64.87. The company has a market cap of $76.09 billion, a PE ratio of 26.60 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period last year, the firm posted $0.49 EPS. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

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A number of brokerages recently commented on SBUX. Wedbush reiterated a “neutral” rating and issued a $60.00 target price (down previously from $65.00) on shares of Starbucks Corporation in a research report on Saturday, July 22nd. Vetr upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a research report on Thursday, June 8th. BidaskClub upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus set a $66.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, KeyCorp began coverage on shares of Starbucks Corporation in a research report on Thursday, June 22nd. They issued an “overweight” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. Starbucks Corporation currently has an average rating of “Buy” and an average target price of $64.93.

In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the firm’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 transaction of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at approximately $1,455,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. 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.

Institutional Ownership by Quarter for Starbucks Corporation (NASDAQ:SBUX)

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