Korea Investment CORP Has $54.88 Million Stake in Starbucks Co. (NASDAQ:SBUX)

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Korea Investment CORP decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 654,600 shares of the coffee company’s stock after selling 3,400 shares during the period. Korea Investment CORP owned about 0.05% of Starbucks worth $54,875,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Prudential Financial Inc. increased its holdings in Starbucks by 166.3% in the second quarter. Prudential Financial Inc. now owns 3,901,446 shares of the coffee company’s stock worth $327,058,000 after buying an additional 2,436,385 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Starbucks by 162.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock worth $278,964,000 after buying an additional 2,058,082 shares during the last quarter. FMR LLC increased its holdings in Starbucks by 19.8% in the first quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock worth $774,936,000 after buying an additional 1,720,231 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Starbucks by 432.2% in the first quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock worth $67,038,000 after buying an additional 1,173,260 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Starbucks by 176.4% in the first quarter. Teacher Retirement System of Texas now owns 1,350,796 shares of the coffee company’s stock worth $100,418,000 after buying an additional 862,102 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

A number of equities research analysts have issued reports on SBUX shares. BMO Capital Markets upped their target price on Starbucks to $84.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Citigroup started coverage on Starbucks in a research report on Wednesday, June 26th. They set a “buy” rating and a $83.65 target price for the company. Credit Suisse Group started coverage on Starbucks in a research report on Tuesday, June 25th. They set an “outperform” rating and a $92.00 target price for the company. Piper Jaffray Companies upped their target price on Starbucks from $77.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $90.00 target price (up previously from $80.00) on shares of Starbucks in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $89.53.

In related news, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $84.64, for a total value of $844,114.72. Following the completion of the transaction, the director now directly owns 28,390 shares of the company’s stock, valued at $2,402,929.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lucy Lee Helm sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $83.00, for a total value of $830,000.00. Following the completion of the transaction, the executive vice president now directly owns 113,455 shares of the company’s stock, valued at $9,416,765. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,666 shares of company stock valued at $11,342,038. 3.98% of the stock is owned by company insiders.

SBUX stock traded down $0.93 during midday trading on Wednesday, hitting $95.84. The stock had a trading volume of 4,740,704 shares, compared to its average volume of 5,932,354. The firm has a market capitalization of $115.58 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 2.63 and a beta of 0.56. Starbucks Co. has a 52 week low of $53.22 and a 52 week high of $99.72. The stock has a 50-day simple moving average of $95.13 and a 200 day simple moving average of $81.75.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. Starbucks’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Equities analysts forecast that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.44 annualized dividend and a yield of 1.50%. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

See Also: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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