Wright Investors Service Inc. bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 16,517 shares of the coffee company’s stock, valued at approximately $1,385,000.
Several other institutional investors have also recently modified their holdings of the company. Sigma Planning Corp boosted its holdings in Starbucks by 16.1% in the second quarter. Sigma Planning Corp now owns 49,649 shares of the coffee company’s stock valued at $4,162,000 after acquiring an additional 6,876 shares in the last quarter. Kavar Capital Partners LLC boosted its holdings in Starbucks by 2.4% in the second quarter. Kavar Capital Partners LLC now owns 63,026 shares of the coffee company’s stock valued at $5,283,000 after acquiring an additional 1,484 shares in the last quarter. White Pine Investment CO boosted its holdings in Starbucks by 1.7% in the second quarter. White Pine Investment CO now owns 65,437 shares of the coffee company’s stock valued at $5,486,000 after acquiring an additional 1,100 shares in the last quarter. Lyell Wealth Management LP boosted its holdings in Starbucks by 2.6% in the second quarter. Lyell Wealth Management LP now owns 12,868 shares of the coffee company’s stock valued at $1,079,000 after acquiring an additional 325 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Starbucks by 57.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 506,639 shares of the coffee company’s stock valued at $42,649,000 after acquiring an additional 185,658 shares in the last quarter. Hedge funds and other institutional investors own 72.54% of the company’s stock.
Starbucks stock traded up $0.46 on Thursday, hitting $95.38. 2,717,342 shares of the stock traded hands, compared to its average volume of 7,953,828. The stock has a market capitalization of $113.61 billion, a price-to-earnings ratio of 39.41, a P/E/G ratio of 2.62 and a beta of 0.55. The firm has a fifty day moving average of $91.38. Starbucks Co. has a 1 year low of $52.30 and a 1 year high of $99.72.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. On average, sell-side analysts predict that Starbucks Co. will post 2.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, August 7th. Starbucks’s dividend payout ratio is presently 59.50%.
SBUX has been the topic of several recent analyst reports. BidaskClub upgraded shares of Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Wells Fargo & Co cut shares of Starbucks from an “outperform” rating to a “market perform” rating and cut their price target for the company from $83.00 to $80.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Tuesday, June 18th. UBS Group lifted their price target on shares of Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Goldman Sachs Group initiated coverage on shares of Starbucks in a report on Monday, July 29th. They issued a “buy” rating and a $110.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Starbucks has a consensus rating of “Buy” and an average price target of $89.53.
In other news, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $95.00, for a total value of $947,435.00. Following the completion of the transaction, the director now owns 28,390 shares of the company’s stock, valued at approximately $2,697,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jill Walker sold 6,492 shares of Starbucks stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,801 shares of company stock valued at $6,301,684. 3.98% of the stock is owned by insiders.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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