Gulf International Bank UK Ltd cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 453,541 shares of the coffee company’s stock after selling 1,078 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Starbucks were worth $22,155,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Magellan Asset Management Ltd raised its holdings in shares of Starbucks by 18.1% in the 4th quarter. Magellan Asset Management Ltd now owns 30,912,781 shares of the coffee company’s stock valued at $1,775,321,000 after purchasing an additional 4,744,675 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Starbucks by 300.6% in the 4th quarter. Lazard Asset Management LLC now owns 4,051,366 shares of the coffee company’s stock valued at $232,669,000 after purchasing an additional 3,040,030 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Starbucks by 78,447.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 2,634,489 shares of the coffee company’s stock valued at $152,510,000 after purchasing an additional 2,631,135 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Starbucks by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 30,728,508 shares of the coffee company’s stock valued at $1,764,739,000 after purchasing an additional 1,210,393 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Starbucks by 1,436.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,110,892 shares of the coffee company’s stock valued at $63,799,000 after purchasing an additional 1,038,570 shares in the last quarter. Institutional investors own 72.06% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Starbucks from a “sell” rating to a “strong sell” rating in a report on Wednesday. BidaskClub lowered shares of Starbucks from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Barclays cut their price target on shares of Starbucks to $60.00 in a research note on Wednesday, June 20th. Stifel Nicolaus cut their price target on shares of Starbucks from $58.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, June 20th. Finally, Robert W. Baird cut their price target on shares of Starbucks from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. Starbucks currently has an average rating of “Hold” and a consensus price target of $61.48.
Shares of NASDAQ:SBUX opened at $48.61 on Friday. The stock has a market capitalization of $67.30 billion, a PE ratio of 23.60, a PEG ratio of 1.45 and a beta of 0.65. The company has a current ratio of 1.09, a quick ratio of 0.83 and a debt-to-equity ratio of 1.31. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, April 26th. The coffee company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The business had revenue of $6.03 billion for the quarter, compared to the consensus estimate of $5.93 billion. Starbucks had a net margin of 18.71% and a return on equity of 60.33%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. equities analysts predict that Starbucks Co. will post 2.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, August 9th will be issued a $0.36 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 8th. This represents a $1.44 annualized dividend and a dividend yield of 2.96%. Starbucks’s payout ratio is presently 58.25%.
Starbucks announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 26th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the coffee company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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