Starbucks Corporation (NASDAQ:SBUX) Director Jorgen Vig Knudstorp bought 18,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was bought at an average price of $55.30 per share, with a total value of $995,400.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $995,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Starbucks Corporation (NASDAQ:SBUX) traded down 1.55% during midday trading on Tuesday, hitting $54.52. The stock had a trading volume of 11,094,155 shares. The company’s 50 day moving average is $58.05 and its 200 day moving average is $58.43. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The company has a market cap of $78.72 billion, a PE ratio of 27.52 and a beta of 0.80.

Starbucks Corporation (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. Starbucks Corporation had a return on equity of 52.82% and a net margin of 12.93%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts anticipate that Starbucks Corporation will post $2.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Thursday, August 10th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Starbucks Corporation’s payout ratio is 50.76%.

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Several large investors have recently modified their holdings of SBUX. State Street Corp boosted its position in shares of Starbucks Corporation by 2.7% in the first quarter. State Street Corp now owns 60,822,661 shares of the coffee company’s stock valued at $3,551,445,000 after buying an additional 1,598,669 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Starbucks Corporation by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 30,770,264 shares of the coffee company’s stock valued at $1,796,675,000 after buying an additional 2,234,324 shares during the period. Magellan Asset Management Ltd boosted its position in shares of Starbucks Corporation by 3,809,645.9% in the first quarter. Magellan Asset Management Ltd now owns 18,667,755 shares of the coffee company’s stock valued at $1,090,000,000 after buying an additional 18,667,265 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Starbucks Corporation by 32.9% in the first quarter. Ameriprise Financial Inc. now owns 14,170,939 shares of the coffee company’s stock valued at $827,444,000 after buying an additional 3,511,080 shares during the period. Finally, Polen Capital Management LLC boosted its position in shares of Starbucks Corporation by 7.6% in the first quarter. Polen Capital Management LLC now owns 10,464,718 shares of the coffee company’s stock valued at $611,035,000 after buying an additional 737,343 shares during the period. Hedge funds and other institutional investors own 69.85% of the company’s stock.

SBUX has been the subject of several analyst reports. Deutsche Bank AG restated a “hold” rating and issued a $59.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 11th. Vetr upgraded Starbucks Corporation from a “buy” rating to a “strong-buy” rating and set a $64.50 target price for the company in a research note on Wednesday, April 12th. Cowen and Company restated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Monday, April 17th. Zacks Investment Research upgraded Starbucks Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, April 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Starbucks Corporation in a research note on Tuesday, April 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. Starbucks Corporation has a consensus rating of “Buy” and an average target price of $64.93.

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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