SRS Capital Advisors Inc. purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,297 shares of the coffee company’s stock, valued at approximately $276,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Abbrea Capital LLC grew its holdings in shares of Starbucks by 1.9% in the second quarter. Abbrea Capital LLC now owns 5,525 shares of the coffee company’s stock worth $463,000 after purchasing an additional 105 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Starbucks by 0.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 38,395 shares of the coffee company’s stock worth $3,219,000 after acquiring an additional 115 shares in the last quarter. Duncker Streett & Co. Inc. grew its holdings in Starbucks by 0.4% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 30,160 shares of the coffee company’s stock worth $2,528,000 after acquiring an additional 120 shares in the last quarter. D.B. Root & Company LLC grew its holdings in Starbucks by 0.8% during the 2nd quarter. D.B. Root & Company LLC now owns 14,929 shares of the coffee company’s stock worth $1,251,000 after acquiring an additional 122 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in Starbucks by 3.0% during the 2nd quarter. Grove Bank & Trust now owns 4,373 shares of the coffee company’s stock worth $367,000 after acquiring an additional 128 shares in the last quarter. Institutional investors and hedge funds own 72.32% of the company’s stock.
Several research analysts have issued reports on the stock. KeyCorp increased their target price on shares of Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Goldman Sachs Group assumed coverage on shares of Starbucks in a report on Monday, July 29th. They set a “buy” rating and a $110.00 target price on the stock. Barclays increased their target price on shares of Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Citigroup assumed coverage on shares of Starbucks in a report on Wednesday, June 26th. They set a “buy” rating and a $83.65 target price on the stock. Finally, Jefferies Financial Group increased their target price on shares of Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities 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’s stock. The stock currently has an average rating of “Buy” and an average target price of $89.53.
Shares of SBUX stock traded up $0.86 during mid-day trading on Thursday, hitting $97.93. 1,989,813 shares of the stock traded hands, compared to its average volume of 6,911,777. The stock has a market cap of $115.51 billion, a P/E ratio of 40.46, a P/E/G ratio of 2.66 and a beta of 0.55. The stock’s fifty day moving average is $94.24 and its two-hundred day moving average is $80.95. Starbucks Co. has a 52-week low of $52.45 and a 52-week high of $99.72.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 13.63% and a negative return on equity of 125.91%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share. As a group, sell-side analysts expect that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, August 7th. Starbucks’s payout ratio is currently 59.50%.
In related news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $76.12, for a total value of $759,144.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total transaction of $621,284.40. The disclosure for this sale can be found here. Insiders sold a total of 129,639 shares of company stock valued at $12,101,183 over the last ninety days. 3.98% of the stock is currently 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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