Mendel Money Management acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,594 shares of the coffee company’s stock, valued at approximately $261,000.
A number of other hedge funds have also recently made changes to their positions in SBUX. Archford Capital Strategies LLC raised its holdings in shares of Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after acquiring an additional 1,902 shares during the period. Polaris Greystone Financial Group LLC purchased a new position in shares of Starbucks during the 3rd quarter worth $107,000. Fort L.P. purchased a new position in shares of Starbucks during the 2nd quarter worth $112,000. Point72 Hong Kong Ltd purchased a new position in shares of Starbucks during the 2nd quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC raised its holdings in shares of Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after acquiring an additional 1,673 shares during the period. Institutional investors own 71.86% of the company’s stock.
Several research firms have recently commented on SBUX. ValuEngine upgraded Starbucks from a “hold” rating to a “buy” rating in a report on Friday, October 26th. BidaskClub lowered Starbucks from a “strong-buy” rating to a “buy” rating in a report on Friday. Wells Fargo & Co lifted their price target on Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Telsey Advisory Group lifted their price target on Starbucks from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Zacks Investment Research lowered Starbucks from a “hold” rating to a “sell” rating in a report on Friday, September 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $60.62.
Shares of SBUX opened at $58.63 on Friday. The stock has a market capitalization of $79.04 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.59 and a beta of 0.60. Starbucks Co. has a 12-month low of $47.37 and a 12-month high of $61.94. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 1.01.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. Starbucks’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Analysts expect that Starbucks Co. will post 2.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.46%. Starbucks’s dividend payout ratio is currently 69.90%.
In other Starbucks news, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $53.98, for a total value of $809,700.00. Following the completion of the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at approximately $1,565,420. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the completion of the transaction, the director now directly owns 29,000 shares of the company’s stock, valued at $1,596,450. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 280,832 shares of company stock valued at $15,052,087. 3.40% of the stock is currently owned by corporate insiders.
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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