Metropolitan Life Insurance Co. NY trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774,246 shares of the coffee company’s stock after selling 9,733 shares during the quarter. Metropolitan Life Insurance Co. NY owned approximately 0.05% of Starbucks Corporation worth $45,208,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. TrimTabs Asset Management LLC purchased a new position in Starbucks Corporation in the first quarter worth $122,000. Kings Point Capital Management grew its holdings in Starbucks Corporation by 22.5% in the first 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 during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Starbucks Corporation in the first quarter worth $140,000. Hanson McClain Inc. grew its holdings in Starbucks Corporation by 21.2% in the first quarter. Hanson McClain Inc. now owns 2,989 shares of the coffee company’s stock worth $175,000 after purchasing an additional 523 shares during the last quarter. Finally, Stelac Advisory Services LLC purchased a new position in Starbucks Corporation in the first quarter worth $186,000. 70.99% of the stock is currently owned by institutional investors.
In other news, Director Jorgen Vig Knudstorp bought 18,000 shares of Starbucks Corporation stock in a transaction that occurred on Friday, August 4th. The stock was purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the completion of the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Culver sold 64,776 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.54, for a total value of $3,468,107.04. Following the completion of the transaction, the insider now directly owns 390,341 shares of the company’s stock, valued at $20,898,857.14. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
Shares of Starbucks Corporation (SBUX) traded up 0.26% during trading on Friday, hitting $54.67. 10,744,783 shares of the stock traded hands. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The firm has a market cap of $78.94 billion, a PE ratio of 27.60 and a beta of 0.78. The company’s 50 day moving average is $54.15 and its 200 day moving average is $57.87.
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 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 during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period in the prior year, the business earned $0.49 earnings per share. Starbucks Corporation’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post $2.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Thursday, August 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Starbucks Corporation’s dividend payout ratio is 50.76%.
SBUX has been the subject of several research reports. Sanford C. Bernstein reiterated a “buy” rating and set a $67.00 price objective on shares of Starbucks Corporation in a research note on Monday, June 12th. Cowen and Company reiterated an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a research note on Friday, July 21st. UBS AG set a $70.00 price objective on shares of Starbucks Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 28th. BTIG Research reiterated a “buy” rating and set a $64.00 price objective on shares of Starbucks Corporation in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.64.
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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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