Sicart Associates LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 26,975 shares of the coffee company’s stock, valued at approximately $1,985,000.
Other hedge funds have also recently made changes to their positions in the company. Certified Advisory Corp grew its position in shares of Starbucks by 32.5% during the 1st quarter. Certified Advisory Corp now owns 526 shares of the coffee company’s stock worth $35,000 after buying an additional 129 shares during the period. First Interstate Bank grew its position in shares of Starbucks by 0.3% during the 1st quarter. First Interstate Bank now owns 41,287 shares of the coffee company’s stock worth $2,714,000 after buying an additional 138 shares during the period. SFE Investment Counsel grew its position in shares of Starbucks by 2.0% during the 1st quarter. SFE Investment Counsel now owns 7,061 shares of the coffee company’s stock worth $464,000 after buying an additional 140 shares during the period. Aries Wealth Management grew its position in shares of Starbucks by 2.6% during the 2nd quarter. Aries Wealth Management now owns 5,601 shares of the coffee company’s stock worth $412,000 after buying an additional 140 shares during the period. Finally, Exeter Financial LLC grew its position in shares of Starbucks by 1.0% during the 1st quarter. Exeter Financial LLC now owns 13,849 shares of the coffee company’s stock worth $910,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 68.51% of the company’s stock.
Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on Starbucks from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday. Argus decreased their target price on Starbucks from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 16th. Royal Bank of Canada cut their price objective on Starbucks from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, June 11th. Wedbush lifted their price objective on Starbucks from $75.00 to $81.00 and gave the company a “neutral” rating in a report on Wednesday. They noted that the move was a valuation call. Finally, Oppenheimer cut their price objective on Starbucks from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $84.04.
NASDAQ SBUX traded down $0.11 during trading on Friday, hitting $76.53. The stock had a trading volume of 7,424,977 shares, compared to its average volume of 8,243,539. The company has a market capitalization of $89.59 billion, a PE ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $98.14. The company’s 50-day moving average price is $74.75 and its two-hundred day moving average price is $77.29.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. The firm had revenue of $4.22 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 EPS. Sell-side analysts expect that Starbucks Co. will post 0.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 6th. Starbucks’s dividend payout ratio (DPR) is 57.95%.
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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