Caxton Associates LP lessened its holdings in Starbucks Corporation (NASDAQ:SBUX) by 89.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,000 shares of the coffee company’s stock after selling 415,000 shares during the quarter. Caxton Associates LP’s holdings in Starbucks Corporation were worth $2,920,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of SBUX. TrimTabs Asset Management LLC bought a new stake in Starbucks Corporation in the 1st quarter worth $122,000. Kings Point Capital Management grew its holdings in Starbucks Corporation by 22.5% in the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after acquiring an additional 425 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Starbucks Corporation during the 1st quarter valued at about $140,000. Hanson McClain Inc. boosted its stake in shares of Starbucks Corporation by 21.2% during the 1st quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock valued at $175,000 after purchasing an additional 523 shares in the last quarter. Finally, Stelac Advisory Services LLC bought a new stake in shares of Starbucks Corporation during the 1st quarter valued at about $186,000. Institutional investors own 70.82% of the company’s stock.
Shares of Starbucks Corporation (SBUX) opened at 55.09 on Monday. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The company has a 50-day moving average of $54.19 and a 200-day moving average of $57.85. The firm has a market cap of $79.54 billion, a PE ratio of 27.81 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the firm earned $0.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts predict that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.
In related news, Director Myron E. Ullman III sold 22,966 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The transaction was disclosed in a legal filing 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 on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the sale, the insider now directly owns 390,341 shares in the company, 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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A number of research analysts recently issued reports on SBUX shares. Zacks Investment Research raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen and Company reaffirmed a “buy” rating and issued a $63.00 target price on shares of Starbucks Corporation in a report on Friday, September 1st. Wedbush raised shares of Starbucks Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $57.00 to $60.00 in a report on Friday, August 25th. Vetr raised shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 target price for the company in a report on Thursday, June 22nd. Finally, Mizuho reissued a “buy” rating and set a $75.00 price objective on shares of Starbucks Corporation in a report on Thursday, July 6th. Thirteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price 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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