Ingalls & Snyder LLC increased its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,826 shares of the coffee company’s stock after buying an additional 40 shares during the period. Ingalls & Snyder LLC’s holdings in Starbucks Corporation were worth $223,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the period. Ameriprise Financial Inc. increased its position in Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the period. Norges Bank acquired a new position in Starbucks Corporation during the fourth quarter valued at approximately $680,375,000. Swiss National Bank increased its position in Starbucks Corporation by 24.0% in the first quarter. Swiss National Bank now owns 5,681,144 shares of the coffee company’s stock valued at $331,722,000 after buying an additional 1,099,100 shares during the period. Finally, Teachers Advisors LLC increased its position in Starbucks Corporation by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 3,445,675 shares of the coffee company’s stock valued at $191,304,000 after buying an additional 267,739 shares during the period. Hedge funds and other institutional investors own 69.98% of the company’s stock.
Shares of Starbucks Corporation (NASDAQ SBUX) traded down 0.64% during trading on Friday, hitting $52.70. 10,370,499 shares of the company traded hands. The stock has a market cap of $76.09 billion, a price-to-earnings ratio of 26.60 and a beta of 0.80. The firm has a 50 day moving average price of $56.32 and a 200-day moving average price of $58.13. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. Starbucks Corporation’s dividend payout ratio is currently 50.76%.
Several equities analysts have commented on the stock. UBS AG set a $70.00 price target on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Saturday, May 13th. Stifel Nicolaus upgraded shares of Starbucks Corporation to a “buy” rating in a research note on Saturday, May 13th. BMO Capital Markets cut shares of Starbucks Corporation from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $54.52 to $64.00 in a research report on Wednesday, August 9th. Wedbush reaffirmed a “hold” rating on shares of Starbucks Corporation in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.93.
In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total value of $606,300.00. Following the transaction, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, for a total transaction of $995,400.00. Following the completion of the transaction, the director now 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.
Starbucks Corporation Company 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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