Bank of Nova Scotia raised its position in Starbucks Corporation (NASDAQ:SBUX) by 57.0% during the first quarter, Holdings Channel reports. The firm owned 842,228 shares of the coffee company’s stock after buying an additional 305,819 shares during the period. Bank of Nova Scotia’s holdings in Starbucks Corporation were worth $49,177,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Regent Investment Management LLC purchased a new position in Starbucks Corporation during the first quarter valued at approximately $256,000. Zevin Asset Management LLC increased its position in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares during the last quarter. Sawtooth Solutions LLC increased its position in Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares during the last quarter. Baystate Wealth Management LLC increased its position in Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares during the last quarter. Finally, Girard Partners LTD. increased its position in Starbucks Corporation by 23.7% in the first quarter. Girard Partners LTD. now owns 53,820 shares of the coffee company’s stock valued at $3,143,000 after buying an additional 10,311 shares during the last quarter. 69.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.480% during mid-day trading on Monday, reaching $53.435. The company’s stock had a trading volume of 2,667,858 shares. The company’s 50-day moving average is $57.19 and its 200 day moving average is $58.29. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The firm has a market cap of $77.15 billion, a price-to-earnings ratio of 26.974 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Starbucks Corporation will post $2.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.

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SBUX has been the topic of several research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research report on Tuesday, April 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, May 12th. UBS AG set a $67.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded Starbucks Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Finally, Guggenheim downgraded Starbucks Corporation from a “buy” rating to a “neutral” rating in a research report on Friday, July 28th. One 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 issued a strong buy rating to the company’s stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.93.

In other news, 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 transaction 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 sale was disclosed in a legal 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 dated 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 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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