Winthrop Advisory Group LLC lifted its holdings in Starbucks Co. (NASDAQ:SBUX) by 42.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,854 shares of the coffee company’s stock after purchasing an additional 2,357 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Starbucks were worth $446,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Archford Capital Strategies LLC boosted its stake in Starbucks by 669.7% during the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock worth $107,000 after buying an additional 1,902 shares during the period. Polaris Greystone Financial Group LLC purchased a new position in Starbucks during the third quarter worth $107,000. Fort L.P. purchased a new position in Starbucks during the second quarter worth $112,000. Point72 Hong Kong Ltd purchased a new position in Starbucks during the second quarter worth $115,000. Finally, RPg Family Wealth Advisory LLC boosted its stake in Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after buying an additional 1,673 shares during the period. 71.86% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Javier G. Teruel sold 166,666 shares of Starbucks stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $52.70, for a total value of $8,783,298.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rosalind G. Brewer acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average price of $54.04 per share, with a total value of $270,200.00. Following the completion of the acquisition, the insider now directly owns 7,302 shares of the company’s stock, valued at $394,600.08. The disclosure for this purchase can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
NASDAQ:SBUX opened at $58.63 on Friday. Starbucks Co. has a twelve month low of $47.37 and a twelve month high of $61.94. The firm has a market cap of $79.04 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 1.54.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 2.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.46%. Starbucks’s payout ratio is currently 69.90%.
Several research firms have commented on SBUX. Piper Jaffray Companies lifted their price objective on shares of Starbucks from $53.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. BidaskClub lowered shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research note on Friday. Telsey Advisory Group lifted their price objective on shares of Starbucks from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday. ValuEngine raised shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Finally, Wells Fargo & Co lifted their price objective on shares of Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.19.
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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