Jacobs & Co. CA trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,586 shares of the coffee company’s stock after selling 3,069 shares during the period. Starbucks accounts for about 2.2% of Jacobs & Co. CA’s holdings, making the stock its 8th largest holding. Jacobs & Co. CA’s holdings in Starbucks were worth $13,668,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in SBUX. Neville Rodie & Shaw Inc. purchased a new position in shares of Starbucks during the 2nd quarter valued at about $218,000. Bath Savings Trust Co lifted its position in shares of Starbucks by 0.6% during the 2nd quarter. Bath Savings Trust Co now owns 138,722 shares of the coffee company’s stock valued at $11,629,000 after buying an additional 845 shares in the last quarter. Summit Financial Group Inc. lifted its position in shares of Starbucks by 10.2% during the 2nd quarter. Summit Financial Group Inc. now owns 4,214 shares of the coffee company’s stock valued at $353,000 after buying an additional 389 shares in the last quarter. Winfield Associates Inc. lifted its position in shares of Starbucks by 6.1% during the 2nd quarter. Winfield Associates Inc. now owns 3,455 shares of the coffee company’s stock valued at $290,000 after buying an additional 200 shares in the last quarter. Finally, Swedbank lifted its position in shares of Starbucks by 4.8% during the 2nd quarter. Swedbank now owns 1,634,800 shares of the coffee company’s stock valued at $137,045,000 after buying an additional 75,163 shares in the last quarter. 70.68% of the stock is owned by institutional investors.
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 value 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 approximately $3,831,904.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Javier G. Teruel sold 59,838 shares of the company’s stock in a transaction 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. Insiders sold a total of 112,885 shares of company stock valued at $10,707,543 over the last quarter. Company insiders own 3.98% of the company’s stock.
A number of research analysts have recently weighed in on the company. Cowen set a $93.00 price objective on Starbucks and gave the company a “hold” rating in a research report on Monday, September 23rd. UBS Group lifted their price objective on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. BTIG Research reissued a “hold” rating on shares of Starbucks in a research note on Wednesday, September 4th. BMO Capital Markets lifted their target price on Starbucks to $84.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Finally, ValuEngine downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Starbucks has an average rating of “Hold” and an average target price of $89.64.
NASDAQ:SBUX traded down $0.18 during trading hours on Friday, reaching $81.77. The stock had a trading volume of 7,054,700 shares, compared to its average volume of 8,267,584. The company has a 50 day moving average price of $85.72 and a two-hundred day moving average price of $86.55. Starbucks Co. has a 52 week low of $60.42 and a 52 week high of $99.72. The stock has a market capitalization of $98.02 billion, a PE ratio of 28.89, a PEG ratio of 2.03 and a beta of 0.53.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Starbucks’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.01%. This is a boost from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 12th. Starbucks’s dividend payout ratio is currently 50.88%.
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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