Keybank National Association OH cut its position in Starbucks Co. (NASDAQ:SBUX) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,777 shares of the coffee company’s stock after selling 23,971 shares during the quarter. Keybank National Association OH’s holdings in Starbucks were worth $38,266,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Enterprise Trust & Investment Co bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. 1 North Wealth Services LLC bought a new stake in shares of Starbucks during the 3rd quarter valued at $30,000. Northern Oak Wealth Management Inc. lifted its position in shares of Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 177 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Starbucks during the 2nd quarter valued at $32,000. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of Starbucks by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock valued at $33,000 after acquiring an additional 14,069 shares during the period. Institutional investors and hedge funds own 70.68% of the company’s stock.
A number of analysts have recently weighed in on SBUX shares. Stephens upped their target price on Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. UBS Group boosted their price target on Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wedbush reissued a “neutral” rating on shares of Starbucks in a report on Thursday, October 31st. BMO Capital Markets boosted their price target on Starbucks to $84.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Finally, Barclays boosted their price target on Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Starbucks has an average rating of “Hold” and an average price target of $89.64.
Shares of Starbucks stock traded down $0.09 on Friday, hitting $81.86. 337,923 shares of the company’s stock traded hands, compared to its average volume of 6,283,469. Starbucks Co. has a one year low of $60.42 and a one year high of $99.72. The company has a fifty day moving average of $85.92 and a two-hundred day moving average of $86.53. The company has a market capitalization of $98.02 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be given a dividend of $0.41 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.64 annualized dividend and a dividend yield of 2.00%. Starbucks’s dividend payout ratio is presently 50.88%.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $96.42, for a total value of $961,596.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Javier G. Teruel sold 59,838 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,885 shares of company stock worth $10,707,543. 3.98% of the stock is owned by corporate 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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