Canandaigua National Bank & Trust Co. boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 45.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,471 shares of the coffee company’s stock after purchasing an additional 17,400 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Starbucks were worth $3,153,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of Starbucks by 6.6% in the first quarter. Principal Financial Group Inc. now owns 5,043,587 shares of the coffee company’s stock valued at $291,975,000 after acquiring an additional 312,720 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Starbucks by 19.4% in the second quarter. Capital Investment Advisors LLC now owns 6,742 shares of the coffee company’s stock valued at $329,000 after acquiring an additional 1,095 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Starbucks by 6.2% in the second quarter. Raymond James Trust N.A. now owns 40,346 shares of the coffee company’s stock valued at $1,971,000 after acquiring an additional 2,369 shares during the period. CX Institutional acquired a new stake in shares of Starbucks in the second quarter valued at approximately $682,000. Finally, Community Bank N.A. boosted its holdings in shares of Starbucks by 62.9% in the second quarter. Community Bank N.A. now owns 6,343 shares of the coffee company’s stock valued at $310,000 after acquiring an additional 2,450 shares during the period. Institutional investors and hedge funds own 71.77% of the company’s stock.
In other Starbucks news, Director Myron E. Ullman III sold 99,166 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total value of $5,459,088.30. Following the completion of the sale, the director now owns 29,000 shares of the company’s stock, valued at $1,596,450. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rosalind G. Brewer bought 5,000 shares of Starbucks stock in a transaction on Monday, August 20th. The stock was acquired at an average cost of $54.04 per share, with a total value of $270,200.00. Following the acquisition, the insider now owns 7,302 shares of the company’s stock, valued at approximately $394,600.08. The disclosure for this purchase can be found here. In the last three months, insiders sold 280,832 shares of company stock valued at $15,052,087. 3.40% of the stock is owned by corporate insiders.
Starbucks stock opened at $68.60 on Friday. Starbucks Co. has a one year low of $47.37 and a one year high of $68.98. The company has a debt-to-equity ratio of 7.73, a current ratio of 2.20 and a quick ratio of 1.95. The firm has a market capitalization of $89.05 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.78 and a beta of 0.48.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Starbucks had a return on equity of 86.33% and a net margin of 18.28%. The company had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the company earned $0.55 earnings per share. Starbucks’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
Several equities research analysts have recently weighed in on SBUX shares. ValuEngine raised Starbucks from a “strong sell” rating to a “sell” rating in a report on Saturday, July 14th. Royal Bank of Canada decreased their price target on Starbucks to $58.00 and set an “outperform” rating for the company in a report on Monday, July 16th. They noted that the move was a valuation call. Telsey Advisory Group decreased their price target on Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. Barclays decreased their price target on Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a report on Wednesday, July 18th. Finally, BMO Capital Markets set a $51.00 price target on Starbucks and gave the stock a “hold” rating in a report on Monday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.48.
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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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