Starbucks Corporation (SBUX) Shares Bought by Whittier Trust Co.
Whittier Trust Co. raised its position in Starbucks Corporation (NASDAQ:SBUX) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 320,734 shares of the coffee company’s stock after buying an additional 4,583 shares during the period. Whittier Trust Co.’s holdings in Starbucks Corporation were worth $18,701,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Regent Investment Management LLC increased its stake in Starbucks Corporation by 6.8% in the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock valued at $273,000 after buying an additional 300 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its stake in Starbucks Corporation by 16.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock valued at $1,861,000 after buying an additional 4,616 shares in the last quarter. Zevin Asset Management LLC increased its stake in Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares in the last quarter. Sawtooth Solutions LLC increased its stake in Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares in the last quarter. Finally, Baystate Wealth Management LLC increased its stake in Starbucks Corporation by 46.8% in the first quarter. Baystate Wealth Management LLC now owns 3,802 shares of the coffee company’s stock valued at $219,000 after buying an additional 1,212 shares in the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.
Shares of Starbucks Corporation (SBUX) traded down 0.47% during trading on Thursday, hitting $53.49. The stock had a trading volume of 4,853,101 shares. The stock has a 50 day moving average of $57.56 and a 200 day moving average of $58.36. The company has a market cap of $77.23 billion, a PE ratio of 27.00 and a beta of 0.80. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87.
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 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 firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Starbucks Corporation will post $2.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.86%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.
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Several research firms have recently commented on SBUX. Stifel Nicolaus set a $66.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a report on Friday, April 28th. UBS AG set a $70.00 price objective on Starbucks Corporation and gave the company a “buy” rating in a report on Tuesday, April 25th. Wedbush restated a “hold” rating on shares of Starbucks Corporation in a report on Friday, July 28th. BTIG Research restated a “buy” rating and set a $64.00 price objective on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Instinet restated a “buy” rating and set a $67.00 price objective (down previously from $70.00) on shares of Starbucks Corporation in a report on Sunday, July 30th. One investment 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 stock. The stock presently has an average rating of “Buy” and an average target price of $64.93.
In related news, Director Jorgen Vig Knudstorp acquired 18,000 shares of Starbucks Corporation stock in a transaction on Friday, August 4th. The shares were bought at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 363,343 shares in the company, valued at $21,604,374.78. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.
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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