Starbucks Corporation (SBUX) Shares Bought by Lincoln Capital LLC
Lincoln Capital LLC increased its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,309 shares of the coffee company’s stock after acquiring an additional 744 shares during the quarter. Starbucks Corporation makes up 5.6% of Lincoln Capital LLC’s holdings, making the stock its 3rd largest holding. Lincoln Capital LLC’s holdings in Starbucks Corporation were worth $8,939,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its position in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock worth $3,551,445,000 after buying an additional 1,598,669 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock worth $1,796,675,000 after buying an additional 2,234,324 shares during the period. Magellan Asset Management Ltd boosted its position in shares of Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock worth $1,090,000,000 after buying an additional 18,667,265 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock worth $827,444,000 after buying an additional 3,511,080 shares during the period. Finally, Polen Capital Management LLC boosted its position in shares of Starbucks Corporation by 7.6% in the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock worth $611,035,000 after buying an additional 737,343 shares during the period. Institutional investors and hedge funds own 70.82% of the company’s stock.
Several analysts have recently commented on the company. UBS AG set a $70.00 target price on Starbucks Corporation and gave the stock a “buy” rating in a research report on Wednesday, June 28th. BMO Capital Markets cut Starbucks Corporation from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $54.52 to $64.00 in a research report on Wednesday, August 9th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. BidaskClub raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley decreased their target price on Starbucks Corporation from $68.00 to $62.00 and set a “weight” rating for the company in a research report on Tuesday, August 22nd. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $64.64.
In other Starbucks Corporation news, Director Jorgen Vig Knudstorp bought 18,000 shares of the firm’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 transaction, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $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 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 value of $1,226,614.06. Following the transaction, the director now owns 36,966 shares in the company, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded up 0.15% during mid-day trading on Friday, hitting $55.09. 6,950,029 shares of the company’s stock traded hands. Starbucks Corporation has a 52 week low of $50.84 and a 52 week high of $64.87. The company has a market cap of $79.54 billion, a PE ratio of 27.81 and a beta of 0.78. The firm has a 50-day moving average of $54.19 and a 200 day moving average of $57.85.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the firm posted $0.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
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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