Executive Wealth Management LLC increased its stake in Starbucks Co. (NASDAQ:SBUX) by 7.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 11,473 shares of the coffee company’s stock after buying an additional 785 shares during the quarter. Executive Wealth Management LLC’s holdings in Starbucks were worth $985,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of SBUX. APG Asset Management N.V. boosted its holdings in shares of Starbucks by 1.1% in the 1st quarter. APG Asset Management N.V. now owns 4,546,743 shares of the coffee company’s stock worth $298,903,000 after buying an additional 48,857 shares during the last quarter. Morgan Stanley increased its position in shares of Starbucks by 15.1% during the first quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock valued at $1,112,717,000 after buying an additional 2,219,969 shares during the period. Clearbridge Investments LLC increased its position in shares of Starbucks by 7.7% during the first quarter. Clearbridge Investments LLC now owns 154,666 shares of the coffee company’s stock valued at $10,168,000 after buying an additional 11,024 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Starbucks by 16.0% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 359,731 shares of the coffee company’s stock valued at $23,649,000 after buying an additional 49,496 shares during the period. Finally, Telemus Capital LLC increased its position in shares of Starbucks by 175.8% during the first quarter. Telemus Capital LLC now owns 17,881 shares of the coffee company’s stock valued at $1,395,000 after buying an additional 11,397 shares during the period. 68.36% of the stock is currently owned by institutional investors.
In related news, Director Clara Shih sold 37,498 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total value of $2,967,216.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin R. Johnson sold 107,762 shares of the firm’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $90.08, for a total value of $9,707,200.96. The disclosure for this sale can be found here. Insiders sold 153,764 shares of company stock valued at $13,404,656 in the last ninety days. 0.41% of the stock is currently owned by insiders.
SBUX has been the topic of several analyst reports. ValuEngine cut Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. UBS Group upped their price target on Starbucks from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Citigroup upped their price objective on shares of Starbucks from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Bank of America upped their price objective on shares of Starbucks from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 28th. Finally, Telsey Advisory Group upped their price objective on shares of Starbucks from $80.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 30th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $87.54.
Shares of NASDAQ:SBUX traded down $1.39 during trading on Monday, reaching $89.41. 347,124 shares of the company traded hands, compared to its average volume of 10,269,175. The firm has a market capitalization of $106.15 billion, a price-to-earnings ratio of 81.80, a P/E/G ratio of 2.26 and a beta of 0.81. Starbucks Co. has a 52-week low of $50.02 and a 52-week high of $94.13. The business’s fifty day moving average is $86.79 and its 200-day moving average is $78.94.
Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.15. The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.14 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business’s quarterly revenue was down 38.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, research analysts forecast that Starbucks Co. will post 0.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.45 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, November 10th. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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