Oppenheimer Asset Management Inc. Buys Shares of 222,871 Starbucks Corporation (SBUX)
Oppenheimer Asset Management Inc. bought a new stake in shares of Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 222,871 shares of the coffee company’s stock, valued at approximately $13,014,000.
A number of other institutional investors also recently bought and sold shares of the stock. Hills Bank & Trust Co. boosted its position in Starbucks Corporation by 3.3% in the first quarter. Hills Bank & Trust Co. now owns 33,585 shares of the coffee company’s stock valued at $1,961,000 after buying an additional 1,080 shares during the last quarter. Boltwood Capital Management boosted its position in Starbucks Corporation by 13.6% in the first quarter. Boltwood Capital Management now owns 17,760 shares of the coffee company’s stock valued at $1,037,000 after buying an additional 2,125 shares during the last quarter. Catawba Capital Management VA boosted its position in Starbucks Corporation by 22.4% in the first quarter. Catawba Capital Management VA now owns 9,830 shares of the coffee company’s stock valued at $574,000 after buying an additional 1,800 shares during the last quarter. Confluence Investment Management LLC boosted its position in Starbucks Corporation by 117.9% in the first quarter. Confluence Investment Management LLC now owns 472,622 shares of the coffee company’s stock valued at $27,596,000 after buying an additional 255,761 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. bought a new position in Starbucks Corporation during the first quarter valued at $247,000. 69.85% of the stock is owned by institutional investors.
Starbucks Corporation (SBUX) traded down 0.54% during mid-day trading on Thursday, reaching $53.45. 2,537,870 shares of the company’s stock traded hands. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The stock’s 50 day moving average is $57.56 and its 200-day moving average is $58.36. The stock has a market capitalization of $77.18 billion, a PE ratio of 26.98 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Corporation will post $2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.86%. Starbucks Corporation’s payout ratio is currently 50.76%.
Several research firms recently weighed in on SBUX. Vetr cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price for the company. in a research note on Thursday, May 25th. Mizuho began coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They set a “buy” rating and a $75.00 target price for the company. Sanford C. Bernstein reaffirmed a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, June 12th. 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, June 13th. Finally, OTR Global cut shares of Starbucks Corporation to a “positive” rating in a research note on Tuesday, April 25th. 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 assigned a strong buy rating to the stock. Starbucks Corporation presently has an average rating of “Buy” and a consensus target price of $64.93.
In related news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares in the company, valued at $995,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the sale, the insider now directly owns 363,343 shares in the company, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company 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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