Starbucks Corporation (NASDAQ:SBUX) Shares Bought by Keel Point LLC
Keel Point LLC raised its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,881 shares of the coffee company’s stock after buying an additional 68 shares during the period. Keel Point LLC’s holdings in Starbucks Corporation were worth $285,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Bath Savings Trust Co raised its stake in Starbucks Corporation by 2.0% in the first quarter. Bath Savings Trust Co now owns 135,935 shares of the coffee company’s stock valued at $7,937,000 after buying an additional 2,608 shares in the last quarter. First Financial Bank N.A. Trust Division raised its stake in Starbucks Corporation by 1,424.5% in the first quarter. First Financial Bank N.A. Trust Division now owns 66,543 shares of the coffee company’s stock valued at $3,885,000 after buying an additional 62,178 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in Starbucks Corporation by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 11,016 shares of the coffee company’s stock valued at $643,000 after buying an additional 75 shares in the last quarter. Franklin Street Advisors Inc. NC raised its stake in Starbucks Corporation by 8.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 101,149 shares of the coffee company’s stock valued at $5,906,000 after buying an additional 7,873 shares in the last quarter. Finally, Private Asset Management Inc. raised its stake in Starbucks Corporation by 4.9% in the first quarter. Private Asset Management Inc. now owns 136,189 shares of the coffee company’s stock valued at $7,952,000 after buying an additional 6,312 shares in the last quarter. 69.85% of the stock is owned by institutional investors.
Starbucks Corporation (SBUX) traded down 0.54% during midday trading on Thursday, hitting $53.45. The stock had a trading volume of 2,542,473 shares. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The firm has a market capitalization of $77.18 billion, a P/E ratio of 26.98 and a beta of 0.80. The firm has a 50-day moving average of $57.56 and a 200 day moving average of $58.36.
Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The firm had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Thursday, August 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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A number of equities research analysts have weighed in on SBUX shares. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.50 price target on the stock in a research report on Wednesday, April 12th. Cowen and Company restated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a research report on Monday, April 17th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a research report on Tuesday, April 18th. Finally, Stifel Nicolaus upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $60.00 to $67.00 in a research report on Wednesday, April 19th. They noted that the move was a valuation call. 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 issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.93.
In related news, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the completion of the transaction, the insider now owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The disclosure for this purchase can be found here. Company 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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