Haverford Trust Co. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 992,819 shares of the coffee company’s stock after selling 3,567 shares during the period. Starbucks accounts for approximately 1.5% of Haverford Trust Co.’s portfolio, making the stock its 24th biggest position. Haverford Trust Co.’s holdings in Starbucks were worth $87,785,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in shares of Starbucks by 3.0% in the third quarter. Daiwa Securities Group Inc. now owns 62,727 shares of the coffee company’s stock valued at $5,546,000 after acquiring an additional 1,848 shares during the last quarter. First National Bank of Omaha acquired a new stake in shares of Starbucks in the third quarter valued at about $244,000. Bartlett & Co. LLC increased its position in shares of Starbucks by 3,195.3% in the third quarter. Bartlett & Co. LLC now owns 330,721 shares of the coffee company’s stock valued at $29,242,000 after acquiring an additional 320,685 shares during the last quarter. M Holdings Securities Inc. increased its position in shares of Starbucks by 0.9% in the third quarter. M Holdings Securities Inc. now owns 14,849 shares of the coffee company’s stock valued at $1,313,000 after acquiring an additional 134 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC increased its position in Starbucks by 2.8% during the third quarter. Strategic Wealth Advisors Group LLC now owns 31,030 shares of the coffee company’s stock worth $2,691,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 70.68% of the company’s stock.
A number of equities analysts have weighed in on SBUX shares. BTIG Research reissued a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. Morgan Stanley boosted their price target on Starbucks from $81.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. BidaskClub downgraded Starbucks from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. OTR Global raised Starbucks to a “positive” rating in a research report on Tuesday, July 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $90.00 price target (up previously from $80.00) on shares of Starbucks in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $89.64.
Shares of SBUX stock traded down $0.18 during trading on Friday, hitting $81.77. The company had a trading volume of 7,047,926 shares, compared to its average volume of 8,267,553. The firm has a market capitalization of $98.02 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53. The stock’s 50-day moving average price is $85.92 and its 200 day moving average price is $86.53. Starbucks Co. has a one year low of $60.42 and a one year high of $99.72.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. On average, analysts predict that Starbucks Co. will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be paid a $0.41 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, November 12th. Starbucks’s payout ratio is 50.88%.
In other Starbucks news, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.80, for a total transaction of $191,600.00. Following the completion of the sale, the chief accounting officer now directly owns 39,999 shares in the company, valued at $3,831,904.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $84.79, for a total value of $845,610.67. Following the sale, the director now owns 28,407 shares of the company’s stock, valued at $2,408,629.53. The disclosure for this sale can be found here. Insiders have sold 112,885 shares of company stock valued at $10,707,543 over the last 90 days. Corporate insiders own 3.98% of the company’s stock.
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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