Starbucks Corporation (SBUX) Position Lowered by Edmond DE Rothschild Holding S.A.
Edmond DE Rothschild Holding S.A. reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 44.2% during the first quarter, Holdings Channel reports. The fund owned 7,792 shares of the coffee company’s stock after selling 6,172 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Starbucks Corporation were worth $455,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in SBUX. Gradient Investments LLC raised its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock worth $109,000 after buying an additional 718 shares during the last quarter. TrimTabs Asset Management LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth about $122,000. Kings Point Capital Management raised its position in shares of Starbucks Corporation by 22.5% in the first quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after buying an additional 425 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Starbucks Corporation during the first quarter worth about $140,000. Finally, Quadrant Capital Group LLC raised its position in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock worth $137,000 after buying an additional 207 shares during the last quarter. 69.85% of the stock is currently owned by institutional investors.
Starbucks Corporation (SBUX) traded up 0.36% during midday trading on Friday, hitting $53.26. The stock had a trading volume of 2,539,797 shares. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The stock has a market cap of $76.90 billion, a price-to-earnings ratio of 26.89 and a beta of 0.80. The company has a 50-day moving average of $57.37 and a 200-day moving average of $58.32.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the company earned $0.49 EPS. Starbucks Corporation’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Starbucks Corporation will post $2.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.
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A number of equities analysts have issued reports on the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research report on Tuesday, April 25th. Stifel Nicolaus raised Starbucks Corporation to a “buy” rating in a research report on Saturday, May 13th. BMO Capital Markets lowered Starbucks Corporation from an “outperform” rating to a “market perform” rating and upped their price target for the company from $54.52 to $64.00 in a research report on Wednesday. Wedbush reissued a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the company. Starbucks Corporation currently has an average rating of “Buy” and an average target price of $64.93.
In other news, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was bought at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the purchase, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clifford Burrows sold 114,826 shares of the stock in a transaction 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 owns 363,343 shares of the company’s stock, valued at $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Corporation 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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