Starbucks Corporation (SBUX) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 702,118 shares of the coffee company’s stock after selling 2,364 shares during the quarter. Retirement Systems of Alabama’s holdings in Starbucks Corporation were worth $40,941,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC raised its holdings in Starbucks Corporation by 2.7% in the 1st quarter. Jacobi Capital Management LLC now owns 1,878 shares of the coffee company’s stock valued at $109,000 after acquiring an additional 50 shares during the period. Gradient Investments LLC raised its holdings in Starbucks Corporation by 2.5% in the 2nd quarter. Gradient Investments LLC now owns 1,911 shares of the coffee company’s stock valued at $111,000 after acquiring an additional 46 shares during the period. Sharkey Howes & Javer raised its holdings in Starbucks Corporation by 8.5% in the 2nd quarter. Sharkey Howes & Javer now owns 1,924 shares of the coffee company’s stock valued at $112,000 after acquiring an additional 150 shares during the period. IHT Wealth Management LLC raised its holdings in Starbucks Corporation by 10.2% in the 1st quarter. IHT Wealth Management LLC now owns 2,012 shares of the coffee company’s stock valued at $117,000 after acquiring an additional 187 shares during the period. Finally, TrimTabs Asset Management LLC bought a new position in Starbucks Corporation in the 1st quarter valued at about $122,000. 70.83% of the stock is currently owned by hedge funds and other institutional investors.
In other Starbucks Corporation news, Director Myron E. Ullman III sold 22,966 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $53.41, for a total transaction of $1,226,614.06. Following the completion of the sale, the director now owns 36,966 shares of the company’s stock, valued at approximately $1,974,354.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp purchased 18,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the transaction, the director now directly owns 18,000 shares in the company, valued at $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by corporate insiders.
Starbucks Corporation (NASDAQ:SBUX) opened at 53.93 on Thursday. The stock’s 50 day moving average is $54.26 and its 200-day moving average is $57.77. Starbucks Corporation has a one year low of $50.84 and a one year high of $64.87. The firm has a market cap of $77.87 billion, a price-to-earnings ratio of 27.22 and a beta of 0.78.
Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 27th. The coffee company reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that Starbucks Corporation will post $2.06 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $60.00 price target (down from $65.00) on shares of Starbucks Corporation in a report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $67.00 target price on shares of Starbucks Corporation in a report on Wednesday, August 23rd. Vetr raised shares of Starbucks Corporation from a “hold” rating to a “buy” rating and set a $65.47 target price on the stock in a report on Thursday, June 8th. BidaskClub raised shares of Starbucks Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 target price on shares of Starbucks Corporation in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $64.34.
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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