Wellington Shields Capital Management LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 14.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,413 shares of the coffee company’s stock after buying an additional 4,906 shares during the period. Wellington Shields Capital Management LLC’s holdings in Starbucks Corporation were worth $2,298,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norway Savings Bank boosted its stake in Starbucks Corporation by 1.7% in the first quarter. Norway Savings Bank now owns 6,525 shares of the coffee company’s stock worth $381,000 after buying an additional 110 shares in the last quarter. Viking Fund Management LLC boosted its stake in Starbucks Corporation by 17.6% in the first quarter. Viking Fund Management LLC now owns 20,000 shares of the coffee company’s stock worth $1,168,000 after buying an additional 3,000 shares in the last quarter. Peoples Financial Services CORP. boosted its stake in Starbucks Corporation by 1.6% in the first quarter. Peoples Financial Services CORP. now owns 19,060 shares of the coffee company’s stock worth $1,112,000 after buying an additional 300 shares in the last quarter. Cullinan Associates Inc. boosted its stake in Starbucks Corporation by 27.3% in the first quarter. Cullinan Associates Inc. now owns 243,545 shares of the coffee company’s stock worth $14,221,000 after buying an additional 52,180 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its stake in Starbucks Corporation by 9.8% in the first quarter. Oliver Luxxe Assets LLC now owns 12,300 shares of the coffee company’s stock worth $718,000 after buying an additional 1,093 shares in the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.

Starbucks Corporation (NASDAQ:SBUX) traded up 0.449% during midday trading on Thursday, reaching $54.765. 2,905,334 shares of the company traded hands. The company has a market capitalization of $79.08 billion, a price-to-earnings ratio of 27.645 and a beta of 0.80. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The stock’s 50 day moving average is $55.81 and its 200 day moving average is $58.10.

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 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 for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Corporation 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. Stockholders of record on Thursday, August 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio is 50.76%.

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A number of research firms have recently issued reports on SBUX. Vetr cut shares of Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 target price for the company. in a research note on Thursday, May 25th. Mizuho began coverage on shares of Starbucks Corporation in a research note on Thursday, June 8th. They set a “buy” rating and a $75.00 target price for the company. Sanford C. Bernstein restated a “buy” rating and set a $67.00 target price on shares of Starbucks Corporation in a research note on Monday, June 12th. Royal Bank Of Canada restated an “outperform” rating and set a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, June 13th. Finally, Wedbush cut shares of Starbucks Corporation from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $61.00 to $65.00 in a research note on Wednesday, June 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.64.

In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the firm’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 transaction of $606,300.00. Following the completion of the transaction, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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.

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

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