Commerzbank Aktiengesellschaft FI decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 341,090 shares of the coffee company’s stock after selling 26,885 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Starbucks Corporation were worth $19,916,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in SBUX. Norges Bank bought a new stake in Starbucks Corporation during the fourth quarter worth $680,375,000. Asset Management One Co. Ltd. increased its stake in Starbucks Corporation by 794.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,587,222 shares of the coffee company’s stock worth $143,844,000 after buying an additional 2,298,115 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Starbucks Corporation during the fourth quarter worth $113,821,000. State Street Corp increased its stake in Starbucks Corporation by 3.5% in the fourth quarter. State Street Corp now owns 59,223,992 shares of the coffee company’s stock worth $3,288,120,000 after buying an additional 1,977,545 shares during the last quarter. Finally, Cpcm LLC bought a new stake in Starbucks Corporation during the fourth quarter worth $47,110,000. 71.12% of the stock is currently owned by institutional investors.
Shares of Starbucks Corporation (NASDAQ:SBUX) opened at 59.81 on Friday. The company has a market cap of $86.61 billion, a PE ratio of 29.58 and a beta of 0.76. The company has a 50 day moving average of $61.50 and a 200-day moving average of $58.38. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. Starbucks Corporation also saw unusually large options trading activity on Friday. Stock investors bought 3,347 call options on the company. This represents an increase of approximately 149% compared to the average volume of 1,342 call options.
Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, April 27th. The coffee company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Starbucks Corporation had a net margin of 13.47% and a return on equity of 51.65%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the business earned $0.39 earnings per share. Starbucks Corporation’s revenue was up 7.3% compared to the same quarter last year. Analysts forecast that Starbucks Corporation will post $2.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Thursday, May 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Tuesday, May 9th. Starbucks Corporation’s dividend payout ratio is presently 49.75%.
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SBUX has been the topic of a number of recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Starbucks Corporation in a report on Friday, May 12th. Vetr raised Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.53 price objective on the stock in a report on Monday, March 6th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Starbucks Corporation in a report on Monday, March 20th. Zacks Investment Research downgraded Starbucks Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Starbucks Corporation in a report on Monday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and three have given a strong buy rating to the company’s stock. Starbucks Corporation currently has a consensus rating of “Buy” and a consensus price target of $65.30.
In related news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the transaction, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clifford Burrows sold 114,826 shares of Starbucks Corporation stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $59.46, for a total transaction of $6,827,553.96. Following the transaction, the insider now directly owns 363,343 shares of the company’s stock, valued at approximately $21,604,374.78. The disclosure for this sale can be found here. Insiders have sold 144,826 shares of company stock valued at $8,642,454 in the last three months. 3.40% of the stock is owned by insiders.
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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