Pennsylvania Trust Co lifted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,947 shares of the coffee company’s stock after buying an additional 5,505 shares during the quarter. Pennsylvania Trust Co’s holdings in Starbucks Corporation were worth $3,729,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vaughan David Investments Inc. IL lifted its stake in shares of Starbucks Corporation by 0.6% during the 1st quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after buying an additional 26 shares in the last quarter. Ingalls & Snyder LLC lifted its stake in Starbucks Corporation by 1.1% in the 1st quarter. Ingalls & Snyder LLC now owns 3,826 shares of the coffee company’s stock worth $223,000 after purchasing an additional 40 shares in the last quarter. Heritage Investors Management Corp lifted its stake in Starbucks Corporation by 0.8% in the 2nd quarter. Heritage Investors Management Corp now owns 4,963 shares of the coffee company’s stock worth $289,000 after purchasing an additional 40 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after purchasing an additional 50 shares in the last quarter. Finally, Keel Point LLC lifted its stake in Starbucks Corporation by 1.4% in the 1st quarter. Keel Point LLC now owns 4,881 shares of the coffee company’s stock worth $285,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.
In related news, Director Myron E. Ullman III sold 22,966 shares of Starbucks Corporation 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 transaction, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Culver sold 64,776 shares of Starbucks Corporation stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total transaction of $3,468,107.04. Following the completion of the transaction, the insider now owns 390,341 shares of the company’s stock, valued at approximately $20,898,857.14. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.15% during midday trading on Friday, hitting $55.09. 6,950,029 shares of the stock traded hands. The stock has a 50-day moving average of $54.19 and a 200-day moving average of $57.85. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The company has a market cap of $79.54 billion, a price-to-earnings ratio of 27.81 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business earned $0.49 earnings per share. On average, equities analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is currently 50.76%.
Several analysts have commented on the stock. Bank of America Corporation reiterated a “neutral” rating and issued a $65.00 price target on shares of Starbucks Corporation in a research note on Thursday, September 14th. Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Cowen and Company reiterated a “buy” rating and issued a $63.00 price target on shares of Starbucks Corporation in a research note on Friday, September 1st. Wedbush upgraded shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $57.00 to $60.00 in a research note on Friday, August 25th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $67.00 price target on shares of Starbucks Corporation in a research note on Wednesday, August 23rd. Thirteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.64.
Starbucks Corporation 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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