The Quantitative Systematic Strategies LLC Acquires 602 Shares of Starbucks Corp. (SBUX)

The Quantitative Systematic Strategies LLC Acquires 602 Shares of Starbucks Corp. (SBUX)

Quantitative Systematic Strategies LLC increased its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 10,600 shares of the coffee company’s stock after buying an additional 602 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Starbucks Corp. were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Exane Derivatives increased its position in Starbucks Corp. by 4.2% in the first quarter. Exane Derivatives now owns 8,374 shares of the coffee company’s stock valued at $500,000 after buying an additional 337 shares during the period. Hilton Capital Management LLC acquired a new position in shares of Starbucks Corp. during the first quarter valued at approximately $330,000. Icon Advisers Inc. Co. increased its position in shares of Starbucks Corp. by 90.8% in the first quarter. Icon Advisers Inc. Co. now owns 31,100 shares of the coffee company’s stock valued at $1,857,000 after buying an additional 14,800 shares during the last quarter. Dubuque Bank & Trust Co. increased its position in shares of Starbucks Corp. by 9.7% in the first quarter. Dubuque Bank & Trust Co. now owns 2,954 shares of the coffee company’s stock valued at $176,000 after buying an additional 262 shares during the last quarter. Finally, Ngam Advisors L.P. increased its position in shares of Starbucks Corp. by 14.5% in the first quarter. Ngam Advisors L.P. now owns 184,570 shares of the coffee company’s stock valued at $11,018,000 after buying an additional 23,337 shares during the last quarter. Institutional investors own 68.13% of the company’s stock.

Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.198% during midday trading on Thursday, reaching $53.055. The company’s stock had a trading volume of 4,908,527 shares. The company has a 50 day moving average of $54.62 and a 200-day moving average of $56.31. Starbucks Corp. has a 52 week low of $52.63 and a 52 week high of $64.00. The stock has a market capitalization of $77.81 billion, a price-to-earnings ratio of 29.806 and a beta of 0.83.

Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, July 21st. The coffee company reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business earned $5.20 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Starbucks Corp. had a net margin of 13.01% and a return on equity of 46.89%. Equities research analysts predict that Starbucks Corp. will post $1.89 earnings per share for the current year.

Several equities analysts have recently commented on SBUX shares. BTIG Research lowered their price objective on Starbucks Corp. from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. RBC Capital Markets restated an “outperform” rating and issued a $68.00 price objective on shares of Starbucks Corp. in a research report on Monday, July 25th. Credit Agricole SA lowered their price objective on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, September 28th. Piper Jaffray Cos. restated an “outperform” rating and issued a $72.00 price objective on shares of Starbucks Corp. in a research report on Friday, July 22nd. Finally, Macquarie upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $66.54.

In other news, Director Myron E. Ullman III sold 12,654 shares of Starbucks Corp. stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $58.70, for a total transaction of $742,789.80. Following the completion of the sale, the director now directly owns 26,654 shares of the company’s stock, valued at approximately $1,564,589.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.38% of the company’s stock.

About Starbucks Corp.

Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.

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