Bruderman Asset Management LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 10.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,651 shares of the coffee company’s stock after selling 6,147 shares during the quarter. Bruderman Asset Management LLC’s holdings in Starbucks Corporation were worth $3,187,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Appropriate Balance Financial Services Inc. grew its holdings in shares of Starbucks Corporation by 1.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after buying an additional 13 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Starbucks Corporation by 2.7% during the first quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock worth $109,000 after buying an additional 50 shares in the last quarter. Gradient Investments LLC grew its holdings in shares of Starbucks Corporation by 2.5% during the second quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock worth $111,000 after buying an additional 46 shares in the last quarter. Sharkey Howes & Javer grew its holdings in shares of Starbucks Corporation by 8.5% during the second quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock worth $112,000 after buying an additional 150 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in shares of Starbucks Corporation by 10.2% during the first quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after buying an additional 187 shares in the last quarter. 71.49% of the stock is owned by institutional investors.

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SBUX has been the subject of a number of research reports. Jefferies Group LLC reaffirmed an “average” rating and set a $65.00 target price on shares of Starbucks Corporation in a report on Friday, July 28th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the stock a “buy” rating in a report on Friday, July 28th. BTIG Research reaffirmed a “buy” rating and set a $64.00 target price on shares of Starbucks Corporation in a report on Sunday, July 30th. Bank of America Corporation reaffirmed a “buy” rating and set a $65.00 target price (down previously from $66.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Instinet reaffirmed a “buy” rating and set a $67.00 target price (down previously from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. Twelve analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.27.

In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $53.54, for a total value of $3,468,107.04. Following the transaction, the insider now directly owns 390,341 shares in the company, valued at $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the transaction, the director now owns 36,966 shares in the company, valued at $1,974,354.06. The disclosure for this sale can be found here. Insiders sold 443,884 shares of company stock worth $25,041,780 over the last quarter. 3.40% of the stock is currently owned by insiders.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at $56.93 on Monday. The firm has a market cap of $82,200.00, a P/E ratio of 27.50, a P/E/G ratio of 1.56 and a beta of 0.72. Starbucks Corporation has a 1-year low of $52.58 and a 1-year high of $64.87. The company has a quick ratio of 0.93, a current ratio of 1.25 and a debt-to-equity ratio of 0.72.

Starbucks Corporation (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.81 billion. Starbucks Corporation had a net margin of 12.89% and a return on equity of 53.34%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. equities analysts forecast that Starbucks Corporation will post 2.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 16th will be paid a $0.30 dividend. This is a positive change from Starbucks Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Starbucks Corporation’s dividend payout ratio is currently 60.91%.

Starbucks Corporation 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.

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

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