Commonwealth Equity Services LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 588,237 shares of the coffee company’s stock after selling 33,061 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Starbucks worth $58,271,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new stake in shares of Starbucks during the 1st quarter worth approximately $25,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. Moser Wealth Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $30,000. NewSquare Capital LLC boosted its stake in shares of Starbucks by 3,222.2% during the 1st quarter. NewSquare Capital LLC now owns 299 shares of the coffee company’s stock worth $31,000 after acquiring an additional 290 shares in the last quarter. Finally, Solstein Capital LLC boosted its stake in shares of Starbucks by 67.4% during the 2nd quarter. Solstein Capital LLC now owns 318 shares of the coffee company’s stock worth $32,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 70.13% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. StockNews.com upgraded Starbucks from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Starbucks in a research report on Thursday, October 19th. They set a “buy” rating and a $118.00 price objective for the company. Jefferies Financial Group cut their price objective on Starbucks from $107.00 to $100.00 in a research report on Tuesday, October 3rd. TD Cowen downgraded Starbucks from an “outperform” rating to a “market perform” rating and cut their price target for the company from $117.00 to $107.00 in a report on Tuesday, September 19th. Finally, William Blair reiterated an “outperform” rating on shares of Starbucks in a report on Monday, November 6th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.52.
Starbucks Stock Down 1.5 %
Shares of Starbucks stock traded down $1.64 on Friday, hitting $105.57. 6,343,048 shares of the company’s stock traded hands, compared to its average volume of 8,562,560. The firm’s 50-day moving average is $95.92 and its 200 day moving average is $98.88. The stock has a market cap of $120.92 billion, a P/E ratio of 29.49, a PEG ratio of 1.56 and a beta of 0.98. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48.
Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The coffee company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.09. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 4.15 EPS for the current year.
Starbucks Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, November 9th. This is a boost from Starbucks’s previous quarterly dividend of $0.53. Starbucks’s dividend payout ratio (DPR) is 63.69%.
Insider Activity at Starbucks
In other news, CFO Rachel Ruggeri sold 504 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total transaction of $53,252.64. Following the completion of the transaction, the chief financial officer now directly owns 75,027 shares in the company, valued at $7,927,352.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Starbucks news, insider Michael Aaron Conway sold 6,500 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total transaction of $681,005.00. Following the sale, the insider now directly owns 72,822 shares in the company, valued at approximately $7,629,560.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 504 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total transaction of $53,252.64. Following the completion of the transaction, the chief financial officer now owns 75,027 shares of the company’s stock, valued at $7,927,352.82. The disclosure for this sale can be found here. 1.98% 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 through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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