Whittier Trust Co. of Nevada Inc. Sells 3,743 Shares of Starbucks Corporation (NASDAQ:SBUX)

Whittier Trust Co. of Nevada Inc. decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,278 shares of the coffee company’s stock after selling 3,743 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Starbucks Corporation were worth $6,722,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. First Financial Bank N.A. Trust Division raised its position in Starbucks Corporation by 1,424.5% in the first quarter. First Financial Bank N.A. Trust Division now owns 66,543 shares of the coffee company’s stock valued at $3,885,000 after buying an additional 62,178 shares during the last quarter. Integrated Investment Consultants LLC raised its position in Starbucks Corporation by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 11,016 shares of the coffee company’s stock valued at $643,000 after buying an additional 75 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in Starbucks Corporation by 8.4% in the first quarter. Franklin Street Advisors Inc. NC now owns 101,149 shares of the coffee company’s stock valued at $5,906,000 after buying an additional 7,873 shares during the last quarter. Private Asset Management Inc. raised its position in Starbucks Corporation by 4.9% in the first quarter. Private Asset Management Inc. now owns 136,189 shares of the coffee company’s stock valued at $7,952,000 after buying an additional 6,312 shares during the last quarter. Finally, Capital Investment Services of America Inc. raised its position in Starbucks Corporation by 2.2% in the first quarter. Capital Investment Services of America Inc. now owns 239,905 shares of the coffee company’s stock valued at $14,008,000 after buying an additional 5,256 shares during the last quarter. Institutional investors own 69.85% of the company’s stock.

Shares of Starbucks Corporation (NASDAQ SBUX) traded up 0.55% during trading on Friday, hitting $53.36. 4,107,195 shares of the stock were exchanged. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The firm has a 50 day moving average of $57.37 and a 200-day moving average of $58.32. The stock has a market cap of $77.05 billion, a PE ratio of 26.94 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The business 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 business posted $0.49 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.

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SBUX has been the topic of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a report on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and issued a $65.00 target price on shares of Starbucks Corporation in a report on Friday, May 12th. UBS AG set a $67.00 target price on shares of Starbucks Corporation and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Starbucks Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $70.00 target price on shares of Starbucks Corporation in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.93.

In other Starbucks Corporation news, insider Clifford Burrows sold 114,826 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the transaction, the insider now owns 363,343 shares in the company, valued at $21,604,374.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 18,000 shares of the business’s stock in a transaction on 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 $995,400. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.

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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