HMS Capital Management LLC Cuts Stake in Starbucks Corporation (NASDAQ:SBUX)

HMS Capital Management LLC lowered its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 46.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,308 shares of the coffee company’s stock after selling 10,821 shares during the period. HMS Capital Management LLC’s holdings in Starbucks Corporation were worth $750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Regent Investment Management LLC acquired a new stake in shares of Starbucks Corporation during the first quarter valued at about $256,000. Zevin Asset Management LLC raised its stake in shares of Starbucks Corporation by 1.0% in the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock valued at $3,616,000 after buying an additional 625 shares during the period. Sawtooth Solutions LLC raised its stake in shares of Starbucks Corporation by 60.1% in the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock valued at $1,071,000 after buying an additional 6,884 shares during the period. Toronto Dominion Bank raised its stake in shares of Starbucks Corporation by 52.6% in the first quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock valued at $23,332,000 after buying an additional 137,795 shares during the period. Finally, Palladium Partners LLC raised its stake in shares of Starbucks Corporation by 6.6% in the first quarter. Palladium Partners LLC now owns 206,790 shares of the coffee company’s stock valued at $12,074,000 after buying an additional 12,783 shares during the period. 69.98% of the stock is owned by hedge funds and other institutional investors.

Starbucks Corporation (NASDAQ SBUX) opened at 52.70 on Friday. The firm’s 50-day moving average is $56.32 and its 200 day moving average is $58.13. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The company has a market capitalization of $76.09 billion, a PE ratio of 26.60 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts expect that Starbucks Corporation will post $2.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Thursday, August 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, August 8th. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.

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Several analysts recently issued reports on SBUX shares. Jefferies Group LLC restated a “buy” rating and set a $65.00 target price on shares of Starbucks Corporation in a research report on Friday, May 12th. Deutsche Bank AG upgraded shares of Starbucks Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $59.00 to $69.00 in a research report on Monday, May 15th. Credit Suisse Group upped their price target on shares of Starbucks Corporation from $55.00 to $57.00 and gave the stock a “neutral” rating in a research report on Friday, April 28th. Vetr upgraded shares of Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $67.14 price target for the company in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered shares of Starbucks Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have given a buy rating and three have assigned a strong buy rating to the stock. Starbucks Corporation has a consensus rating of “Buy” and a consensus target price of $64.93.

In other news, Director Jorgen Vig Knudstorp acquired 18,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was acquired at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at $995,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Myron E. Ullman III sold 10,000 shares of the 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 completion of the sale, the director now directly owns 24,000 shares of the company’s stock, valued at $1,455,120. The disclosure for this sale can be found here. Corporate 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.

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

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