Starbucks Corporation (SBUX) Shares Bought by Baystate Wealth Management LLC
Baystate Wealth Management LLC boosted its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,809 shares of the coffee company’s stock after buying an additional 7 shares during the period. Baystate Wealth Management LLC’s holdings in Starbucks Corporation were worth $222,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of SBUX. Capital Investment Services of America Inc. increased its stake in shares of Starbucks Corporation by 2.2% in the first quarter. Capital Investment Services of America Inc. now owns 239,905 shares of the coffee company’s stock worth $14,008,000 after buying an additional 5,256 shares during the period. Triangle Securities Wealth Management increased its stake in shares of Starbucks Corporation by 13.0% in the first quarter. Triangle Securities Wealth Management now owns 5,859 shares of the coffee company’s stock worth $342,000 after buying an additional 675 shares during the period. Rathbone Brothers plc increased its stake in shares of Starbucks Corporation by 19.5% in the first quarter. Rathbone Brothers plc now owns 14,792 shares of the coffee company’s stock worth $864,000 after buying an additional 2,415 shares during the period. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Starbucks Corporation during the first quarter worth $247,000. Finally, Confluence Investment Management LLC increased its stake in shares of Starbucks Corporation by 117.9% in the first quarter. Confluence Investment Management LLC now owns 472,622 shares of the coffee company’s stock worth $27,596,000 after buying an additional 255,761 shares during the period. Institutional investors and hedge funds own 69.85% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 0.21% during midday trading on Friday, hitting $53.18. The stock had a trading volume of 9,235,033 shares. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm’s 50-day moving average price is $57.19 and its 200-day moving average price is $58.29. The firm has a market capitalization of $76.79 billion, a PE ratio of 26.85 and a beta of 0.80.
Starbucks Corporation (NASDAQ:SBUX) last released its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ 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 last year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.88%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
SBUX has been the subject of a number of research analyst reports. Cowen and Company reiterated an “outperform” rating and issued a $66.00 price target on shares of Starbucks Corporation in a report on Monday, April 17th. Vetr downgraded Starbucks Corporation from a “strong-buy” rating to a “buy” rating and set a $64.50 price target for the company. in a report on Tuesday, April 18th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, April 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Starbucks Corporation in a report on Tuesday, April 18th. Finally, Stifel Nicolaus upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $60.00 to $67.00 in a 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 issued a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the stock. Starbucks Corporation currently has an average rating of “Buy” and a consensus price target of $64.93.
In related news, Director Jorgen Vig Knudstorp purchased 18,000 shares of Starbucks Corporation stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $995,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clifford Burrows sold 114,826 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was 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 in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. 3.40% of the stock is 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.
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