Great Lakes Advisors LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,962 shares of the coffee company’s stock after buying an additional 975 shares during the period. Great Lakes Advisors LLC’s holdings in Starbucks were worth $1,589,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SBUX. Polaris Greystone Financial Group LLC purchased a new stake in Starbucks during the 3rd quarter worth $107,000. Archford Capital Strategies LLC boosted its position in 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 purchasing an additional 1,902 shares during the period. Fort L.P. purchased a new stake in Starbucks during the 2nd quarter worth $112,000. Point72 Hong Kong Ltd purchased a new stake in Starbucks during the 2nd quarter worth $115,000. Finally, Resources Management Corp CT ADV purchased a new stake in Starbucks during the 3rd quarter worth $134,000. Institutional investors and hedge funds own 76.07% of the company’s stock.
A number of analysts recently weighed in on the stock. Bank of America upped their price target on shares of Starbucks from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Royal Bank of Canada upped their price target on shares of Starbucks to $68.00 and gave the stock a “positive” rating in a research report on Friday, November 2nd. Piper Jaffray Companies cut shares of Starbucks from an “overweight” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Tuesday, August 21st. BidaskClub cut shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $66.00 price objective on shares of Starbucks in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and a consensus price target of $65.34.
Shares of Starbucks stock opened at $66.65 on Thursday. The stock has a market capitalization of $82.69 billion, a PE ratio of 27.54, a P/E/G ratio of 1.87 and a beta of 0.52. 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 Co. has a 1 year low of $47.37 and a 1 year high of $68.98.
Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.55 EPS. Sell-side analysts forecast that Starbucks Co. will post 2.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.36 dividend. 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 (DPR) is presently 59.50%.
In other news, Director Myron E. Ullman III sold 99,166 shares of the company’s 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 sale, the director now owns 29,000 shares in the company, valued at approximately $1,596,450. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.
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Starbucks Company Profile
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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