Starbucks Corporation (SBUX) Holdings Maintained by Laffer Investments

Laffer Investments maintained its position in Starbucks Corporation (NASDAQ:SBUX) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,755 shares of the coffee company’s stock at the end of the first quarter. Starbucks Corporation makes up approximately 0.7% of Laffer Investments’ holdings, making the stock its 26th largest holding. Laffer Investments’ holdings in Starbucks Corporation were worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its holdings in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock worth $117,000 after purchasing an additional 187 shares in the last quarter. TrimTabs Asset Management LLC purchased a new position in Starbucks Corporation in the 1st quarter worth approximately $122,000. Kings Point Capital Management lifted its holdings in Starbucks Corporation by 22.5% in the 1st quarter. Kings Point Capital Management now owns 2,310 shares of the coffee company’s stock worth $135,000 after purchasing an additional 425 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Starbucks Corporation in the 1st quarter worth approximately $140,000. Finally, Hanson McClain Inc. lifted its holdings in Starbucks Corporation by 21.2% in the 1st quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock worth $175,000 after purchasing an additional 523 shares in the last quarter. 70.99% of the stock is currently owned by hedge funds and other institutional investors.

In other Starbucks Corporation news, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were bought at an average price of $55.30 per share, for a total transaction of $995,400.00. Following the transaction, the director now owns 18,000 shares of the company’s stock, valued at approximately $995,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Starbucks Corporation (NASDAQ SBUX) traded down 0.37% during mid-day trading on Tuesday, reaching $53.82. The company had a trading volume of 4,211,708 shares. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The company has a market capitalization of $77.71 billion, a price-to-earnings ratio of 27.17 and a beta of 0.78. The firm’s 50 day moving average price is $54.65 and its 200-day moving average price is $57.99.

Starbucks Corporation (NASDAQ:SBUX) last released 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 company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, August 8th. Starbucks Corporation’s payout ratio is 50.76%.

A number of research analysts recently commented on SBUX shares. Sanford C. Bernstein reissued a “buy” rating and issued a $67.00 price target on shares of Starbucks Corporation in a report on Monday, June 12th. Cowen and Company reissued an “outperform” rating and issued a $66.00 price target on shares of Starbucks Corporation in a report on Friday, July 21st. UBS AG set a $70.00 price target on Starbucks Corporation and gave the stock a “buy” rating in a report on Wednesday, June 28th. BTIG Research reissued a “buy” rating and issued a $64.00 price target on shares of Starbucks Corporation in a report on Sunday, July 30th. Finally, Zacks Investment Research raised Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $64.64.

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

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