Starbucks Co. (SBUX) Shares Sold by Atlantic Trust Group LLC
Atlantic Trust Group LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,174 shares of the coffee company’s stock after selling 4,397 shares during the period. Atlantic Trust Group LLC’s holdings in Starbucks were worth $9,819,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Starbucks 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. Bank of New York Mellon Corp raised its stake in shares of Starbucks 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. Swiss National Bank raised its stake in shares of Starbucks 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. Haverford Trust Co. bought a new stake in shares of Starbucks during the first quarter worth approximately $49,787,000. Finally, Karp Capital Management Corp raised its stake in shares of Starbucks by 2,225.0% in the first quarter. Karp Capital Management Corp now owns 737,008 shares of the coffee company’s stock worth $43,034,000 after buying an additional 705,309 shares during the last quarter. Institutional investors and hedge funds own 70.99% of the company’s stock.
Starbucks Co. (NASDAQ SBUX) traded up 0.490% during midday trading on Wednesday, hitting $54.365. 1,415,764 shares of the stock were exchanged. The company’s 50 day moving average is $55.81 and its 200-day moving average is $58.10. The stock has a market cap of $78.50 billion, a PE ratio of 27.443 and a beta of 0.80. Starbucks Co. has a 1-year low of $50.84 and a 1-year high of $64.87.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks had a return on equity of 48.46% and a net margin of 12.21%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. On average, analysts expect that Starbucks Co. will post $2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Thursday, August 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. Starbucks’s dividend payout ratio (DPR) is presently 50.76%.
Several brokerages have issued reports on SBUX. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Starbucks in a research note on Friday, May 12th. Deutsche Bank AG upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $59.00 to $69.00 in a research note on Monday, May 15th. Vetr upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating and set a $67.14 price target on the stock in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Mizuho reiterated a “buy” rating and issued a $75.00 price target on shares of Starbucks in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the stock. Starbucks has an average rating of “Buy” and an average price target of $64.64.
In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 10,000 shares of the company’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 $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Starbucks 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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