Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 675,005 shares of the coffee company’s stock after selling 20,431 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Starbucks Corporation were worth $39,414,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in SBUX. Gradient Investments LLC increased its position in shares of Starbucks Corporation by 62.6% in the first quarter. Gradient Investments LLC now owns 1,865 shares of the coffee company’s stock valued at $109,000 after buying an additional 718 shares during the period. Quadrant Capital Group LLC increased its position in shares of Starbucks Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 2,489 shares of the coffee company’s stock valued at $137,000 after buying an additional 207 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Starbucks Corporation during the first quarter valued at approximately $140,000. Pinnacle Bank acquired a new position in shares of Starbucks Corporation during the first quarter valued at approximately $146,000. Finally, Alpha Windward LLC increased its position in shares of Starbucks Corporation by 1.0% in the first quarter. Alpha Windward LLC now owns 2,961 shares of the coffee company’s stock valued at $173,000 after buying an additional 30 shares during the period. 69.98% of the stock is currently owned by institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 0.64% during trading on Friday, reaching $52.70. The company had a trading volume of 10,370,499 shares. Starbucks Corporation has a 12 month low of $50.84 and a 12 month high of $64.87. The firm has a market capitalization of $76.09 billion, a P/E ratio of 26.60 and a beta of 0.80. The firm’s 50 day moving average price is $56.32 and its 200 day moving average price is $58.13.
Starbucks Corporation (NASDAQ:SBUX) last announced its earnings results on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. Starbucks Corporation’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is presently 50.76%.
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A number of research firms have recently issued reports on SBUX. Vetr downgraded Starbucks Corporation from a “buy” rating to a “hold” rating and set a $65.15 price target on the stock. in a research report on Thursday, May 25th. Mizuho began coverage on Starbucks Corporation in a research report on Thursday, June 8th. They set a “buy” rating and a $75.00 price target on the stock. Sanford C. Bernstein reissued a “buy” rating and set a $67.00 price target on shares of Starbucks Corporation in a research report on Monday, June 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Starbucks Corporation in a research report on Tuesday, June 13th. Finally, UBS AG set a $70.00 price target on Starbucks Corporation and gave the stock a “buy” rating in a research report on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the stock. Starbucks Corporation presently has a consensus rating of “Buy” and a consensus target price of $64.93.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the sale, the director now owns 24,000 shares in the company, valued at approximately $1,455,120. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the 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 acquisition, the director now owns 18,000 shares in the company, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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