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.
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.
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Corporation (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks Corporation and related companies with MarketBeat.com's FREE daily email newsletter.