Tdam USA Inc. raised its position in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,847 shares of the coffee company’s stock after purchasing an additional 2,620 shares during the quarter. Tdam USA Inc.’s holdings in Starbucks were worth $6,216,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in 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 in the last quarter. IFM Investors Pty Ltd boosted its holdings in Starbucks by 43.5% during the second quarter. IFM Investors Pty Ltd now owns 63,633 shares of the coffee company’s stock worth $3,108,000 after buying an additional 19,276 shares in the last quarter. Thompson Investment Management Inc. boosted its holdings in Starbucks by 18.8% during the second quarter. Thompson Investment Management Inc. now owns 27,051 shares of the coffee company’s stock worth $1,321,000 after buying an additional 4,275 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Starbucks by 21.8% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 38,575 shares of the coffee company’s stock worth $1,884,000 after buying an additional 6,905 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its holdings in Starbucks by 19.4% during the second quarter. Capital Investment Advisors LLC now owns 6,742 shares of the coffee company’s stock worth $329,000 after buying an additional 1,095 shares in the last quarter. Institutional investors own 71.77% of the company’s stock.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $52.70, for a total value of $8,783,298.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rosalind G. Brewer bought 5,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was bought at an average price of $54.04 per share, with a total value of $270,200.00. Following the transaction, the insider now owns 7,302 shares in the company, valued at $394,600.08. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 280,832 shares of company stock valued at $15,052,087. 3.48% of the stock is owned by insiders.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, November 1st. The coffee company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts expect that Starbucks Co. will post 2.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a dividend yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.
A number of analysts recently weighed in on the stock. BMO Capital Markets set a $51.00 target price on shares of Starbucks and gave the stock a “hold” rating in a report on Monday, July 23rd. Barclays reduced their target price on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating for the company in a report on Wednesday, July 18th. Telsey Advisory Group reduced their target price on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, July 17th. ValuEngine upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, Robert W. Baird raised their target price on shares of Starbucks from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $63.48.
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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