Rikoon Group LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 25.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,221 shares of the coffee company’s stock after selling 1,766 shares during the period. Rikoon Group LLC’s holdings in Starbucks were worth $438,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Enterprise Trust & Investment Co acquired a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. Cowen Prime Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $26,000. Paragon Capital Management LLC acquired a new position in Starbucks during the 1st quarter worth approximately $29,000. Northern Oak Wealth Management Inc. raised its stake in Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after buying an additional 177 shares during the period. Finally, C J Advisory Inc acquired a new position in Starbucks during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 72.32% of the company’s stock.
NASDAQ SBUX traded down $1.24 on Friday, hitting $95.25. 3,405,842 shares of the stock traded hands, compared to its average volume of 7,999,455. The business’s fifty day moving average is $93.28 and its two-hundred day moving average is $80.15. Starbucks Co. has a 12 month low of $52.42 and a 12 month high of $99.72. The firm has a market capitalization of $114.47 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 2.64 and a beta of 0.55.
Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Starbucks’s revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is 59.50%.
In other news, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,639 shares of company stock valued at $12,101,183. 3.98% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on SBUX. Stifel Nicolaus upped their price target on Starbucks from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. KeyCorp upped their price target on Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Credit Suisse Group began coverage on Starbucks in a research note on Tuesday, June 25th. They set an “outperform” rating and a $92.00 price target on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $90.00 price target (up from $80.00) on shares of Starbucks in a research note on Friday, July 26th. Finally, Barclays upped their price target on Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $89.53.
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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