Oppenheimer & Co. Inc. lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 211,547 shares of the coffee company’s stock after selling 15,197 shares during the period. Oppenheimer & Co. Inc.’s holdings in Starbucks Corporation were worth $12,352,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SBUX. Hills Bank & Trust Co. boosted its position in shares of Starbucks Corporation by 3.3% in the first quarter. Hills Bank & Trust Co. now owns 33,585 shares of the coffee company’s stock worth $1,961,000 after buying an additional 1,080 shares during the last quarter. Boltwood Capital Management boosted its position in shares of Starbucks Corporation by 13.6% in the first quarter. Boltwood Capital Management now owns 17,760 shares of the coffee company’s stock worth $1,037,000 after buying an additional 2,125 shares during the last quarter. Catawba Capital Management VA boosted its position in shares of Starbucks Corporation by 22.4% in the first quarter. Catawba Capital Management VA now owns 9,830 shares of the coffee company’s stock worth $574,000 after buying an additional 1,800 shares during the last quarter. Confluence Investment Management LLC boosted its position in shares of Starbucks Corporation by 117.9% in the first quarter. Confluence Investment Management LLC now owns 472,622 shares of the coffee company’s stock worth $27,596,000 after buying an additional 255,761 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Starbucks Corporation during the first quarter worth approximately $247,000. Hedge funds and other institutional investors own 69.85% of the company’s stock.

Shares of Starbucks Corporation (SBUX) traded down 0.512% during trading on Thursday, hitting $53.465. 2,534,163 shares of the company were exchanged. The firm has a market capitalization of $77.20 billion, a PE ratio of 26.989 and a beta of 0.80. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The firm’s 50-day moving average price is $57.57 and its 200 day moving average price is $58.36.

Starbucks Corporation (NASDAQ:SBUX) last posted its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities research analysts expect that Starbucks Corporation will post $2.08 earnings per share for the current fiscal year.

The firm also recently announced 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 annualized dividend and a yield of 1.86%. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

WARNING: “Oppenheimer & Co. Inc. Lowers Position in Starbucks Corporation (SBUX)” was posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.watchlistnews.com/oppenheimer-co-inc-lowers-position-in-starbucks-corporation-sbux/1470767.html.

A number of brokerages recently commented on SBUX. Vetr cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price on the stock. in a research report on Thursday, May 25th. Mizuho began coverage on shares of Starbucks Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price on the stock. Sanford C. Bernstein reiterated a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, OTR Global cut shares of Starbucks Corporation to a “positive” rating in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. Starbucks Corporation presently has a consensus 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 shares were purchased at an average price of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation 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 in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. 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.

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).

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

Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.