Gradient Investments LLC raised its stake in Starbucks Corporation (NASDAQ:SBUX) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 1,911 shares of the coffee company’s stock after buying an additional 46 shares during the period. Gradient Investments LLC’s holdings in Starbucks Corporation were worth $111,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Magellan Asset Management Ltd boosted its stake in shares of Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Starbucks Corporation 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 valued at $1,796,675,000 after buying an additional 2,234,324 shares during the last quarter. State Street Corp boosted its stake in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after buying an additional 1,099,100 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.

Shares of Starbucks Corporation (SBUX) traded down 0.50% on Thursday, hitting $53.47. The stock had a trading volume of 4,842,658 shares. The company has a market capitalization of $77.21 billion, a price-to-earnings ratio of 26.99 and a beta of 0.80. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a 50-day moving average of $57.56 and a 200 day moving average of $58.36.

Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $5.66 billion during 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%. Starbucks Corporation’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, equities research analysts predict that Starbucks Corporation will post $2.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is presently 50.76%.

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Several analysts have recently commented on SBUX shares. Jefferies Group LLC restated a “buy” rating and set a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. Deutsche Bank AG upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $59.00 to $69.00 in a report on Monday, May 15th. Credit Suisse Group increased their target price on Starbucks Corporation from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 target price on the stock in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One research 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 issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $64.93.

In other news, Director Myron E. Ullman III sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the completion of the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total value of $6,827,553.96. Following the completion of the transaction, the insider now directly owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

About Starbucks Corporation

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

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