Keybank National Association OH decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,131,126 shares of the coffee company’s stock after selling 14,307 shares during the period. Keybank National Association OH owned about 0.08% of Starbucks Corporation worth $66,047,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of SBUX. Bank of New York Mellon Corp raised its position in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. Ameriprise Financial Inc. raised its position in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Norges Bank acquired a new position in Starbucks Corporation during the fourth quarter worth $680,375,000. Swiss National Bank raised its position in Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock worth $331,722,000 after buying an additional 1,099,100 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Starbucks Corporation by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 3,445,675 shares of the coffee company’s stock worth $191,304,000 after buying an additional 267,739 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.64% during midday trading on Friday, hitting $52.70. The stock had a trading volume of 10,370,499 shares. The firm’s 50-day moving average price is $56.32 and its 200-day moving average price is $58.13. The stock has a market cap of $76.09 billion, a price-to-earnings ratio of 26.60 and a beta of 0.80. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post $2.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
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SBUX has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a report on Monday, June 12th. Cowen and Company reissued an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Starbucks Corporation in a report on Friday, April 28th. Finally, OTR Global lowered Starbucks Corporation to a “positive” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $64.93.
In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $995,400. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value 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 approximately $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
About Starbucks Corporation
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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