RB Capital Management LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,265 shares of the coffee company’s stock after selling 2,443 shares during the period. Starbucks accounts for about 2.7% of RB Capital Management LLC’s portfolio, making the stock its 7th biggest holding. RB Capital Management LLC’s holdings in Starbucks were worth $3,084,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Archford Capital Strategies LLC lifted its position in shares of Starbucks by 669.7% in 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 in the last quarter. Polaris Greystone Financial Group LLC purchased a new stake in Starbucks during the third quarter valued at approximately $107,000. Fort L.P. purchased a new stake in Starbucks during the second quarter valued at approximately $112,000. Point72 Hong Kong Ltd purchased a new stake in Starbucks during the second quarter valued at approximately $115,000. Finally, RPg Family Wealth Advisory LLC raised its position 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 valued at $134,000 after purchasing an additional 1,673 shares during the period. 76.07% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the transaction, the director now owns 29,000 shares of the company’s stock, valued at $1,596,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.48% of the company’s stock.
SBUX has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on Starbucks to $68.00 and gave the company a “positive” rating in a research report on Friday, November 2nd. BidaskClub upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Bank of America upped their price objective on Starbucks from $57.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Zacks Investment Research downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Finally, ValuEngine upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and a consensus target price of $65.34.
SBUX opened at $66.65 on Wednesday. The company has a market cap of $82.77 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 1.89 and a beta of 0.52. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98. The company has a current ratio of 2.20, a quick ratio of 1.95 and a debt-to-equity ratio of 7.73.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, November 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.16%. Starbucks’s dividend payout ratio is 59.50%.
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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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