Vigilant Capital Management LLC Grows Position in Starbucks Corporation (SBUX)
Vigilant Capital Management LLC increased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,285 shares of the coffee company’s stock after acquiring an additional 745 shares during the quarter. Vigilant Capital Management LLC’s holdings in Starbucks Corporation were worth $8,355,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. CGOV Asset Management grew its holdings in shares of Starbucks Corporation by 5.1% during the first quarter. CGOV Asset Management now owns 1,143,123 shares of the coffee company’s stock valued at $88,920,000 after purchasing an additional 55,405 shares during the last quarter. Waldron LP raised its position in shares of Starbucks Corporation by 44.8% during the 1st quarter. Waldron LP now owns 18,119 shares of the coffee company’s stock worth $1,057,000 after purchasing an additional 5,604 shares during the period. Russell Investments Group Ltd. raised its position in shares of Starbucks Corporation by 9.3% during the 1st quarter. Russell Investments Group Ltd. now owns 3,352,860 shares of the coffee company’s stock worth $195,747,000 after purchasing an additional 286,081 shares during the period. Rand Wealth LLC raised its position in shares of Starbucks Corporation by 8.6% during the 1st quarter. Rand Wealth LLC now owns 38,325 shares of the coffee company’s stock worth $2,238,000 after purchasing an additional 3,020 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Starbucks Corporation by 1.0% during the 1st quarter. IFP Advisors Inc now owns 92,841 shares of the coffee company’s stock worth $5,421,000 after purchasing an additional 883 shares during the period. Hedge funds and other institutional investors own 70.83% of the company’s stock.
A number of research analysts recently issued reports on the company. Jefferies Group LLC restated an “average” rating and set a $65.00 price objective on shares of Starbucks Corporation in a research report on Friday, July 28th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $67.00 target price on shares of Starbucks Corporation in a research report on Monday, June 12th. Vetr raised Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a research report on Thursday, June 8th. Mizuho assumed coverage on Starbucks Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $75.00 target price on the stock. Finally, UBS AG set a $70.00 target price on Starbucks Corporation and gave the company a “buy” rating in a research note on Wednesday, June 28th. Thirteen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.33.
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In other Starbucks Corporation news, insider John Culver sold 64,776 shares of the company’s 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 completion of the sale, the insider now owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 22,966 shares of the company’s 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 sale, the director now directly owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
Starbucks Corporation (SBUX) traded up 0.214% during mid-day trading on Monday, hitting $53.825. The stock had a trading volume of 3,073,539 shares. The company has a market cap of $77.72 billion, a P/E ratio of 27.171 and a beta of 0.78. Starbucks Corporation has a 1-year low of $50.84 and a 1-year high of $64.87. The company has a 50-day moving average price of $54.19 and a 200 day moving average price of $57.85.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Equities research analysts forecast that Starbucks Corporation will post $2.06 EPS for the current fiscal year.
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.
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