tru Independence LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 17.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,503 shares of the coffee company’s stock after selling 758 shares during the quarter. tru Independence LLC’s holdings in Starbucks were worth $257,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Starbucks by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 91,002,442 shares of the coffee company’s stock worth $6,696,870,000 after acquiring an additional 493,961 shares during the last quarter. FMR LLC increased its stake in Starbucks by 11.2% in the second quarter. FMR LLC now owns 21,754,140 shares of the coffee company’s stock worth $1,600,888,000 after purchasing an additional 2,199,811 shares during the period. Morgan Stanley lifted 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 worth $1,112,717,000 after purchasing an additional 2,219,969 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Starbucks by 2.2% during the first quarter. Wells Fargo & Company MN now owns 11,403,058 shares of the coffee company’s stock valued at $749,637,000 after purchasing an additional 245,223 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Starbucks by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 11,350,031 shares of the coffee company’s stock worth $835,247,000 after purchasing an additional 1,195,694 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
In other news, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $84.77, for a total value of $360,442.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Clara Shih sold 37,498 shares of Starbucks stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 46,002 shares of company stock valued at $3,642,689 in the last three months. Corporate insiders own 0.41% of the company’s stock.
A number of equities research analysts recently weighed in on SBUX shares. Royal Bank of Canada decreased their price objective on shares of Starbucks from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, June 11th. Wells Fargo & Company started coverage on Starbucks in a report on Monday, July 20th. They issued an “overweight” rating and a $92.00 price target for the company. Stephens increased their price objective on Starbucks from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Atlantic Securities assumed coverage on Starbucks in a research report on Monday, June 15th. They set an “overweight” rating and a $95.00 target price for the company. Finally, Telsey Advisory Group dropped their price target on Starbucks from $90.00 to $80.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 23rd. Sixteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.50.
SBUX traded up $1.45 during trading on Wednesday, hitting $89.16. The company’s stock had a trading volume of 170,483 shares, compared to its average volume of 10,983,878. The firm has a market capitalization of $102.53 billion, a price-to-earnings ratio of 80.44, a P/E/G ratio of 6.38 and a beta of 0.81. Starbucks Co. has a twelve month low of $50.02 and a twelve month high of $94.13. The business’s fifty day simple moving average is $80.61 and its 200 day simple moving average is $75.44.
Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was down 38.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Equities research analysts forecast that Starbucks Co. will post 0.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were given a $0.41 dividend. The ex-dividend date was Thursday, August 6th. This represents a $1.64 annualized dividend and a dividend yield of 1.84%. Starbucks’s dividend payout ratio (DPR) is 57.95%.
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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