Minot Wealth Management LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 31.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,743 shares of the coffee company’s stock after purchasing an additional 4,725 shares during the quarter. Minot Wealth Management LLC’s holdings in Starbucks were worth $1,453,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Capital Wealth Alliance LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $25,000. RMR Wealth Builders acquired a new position in Starbucks during the 4th quarter worth about $26,000. Column Capital Advisors LLC lifted its stake in shares of Starbucks by 57.0% in the 1st quarter. Column Capital Advisors LLC now owns 468 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 170 shares during the period. AlphaCore Capital LLC acquired a new position in shares of Starbucks in the 1st quarter valued at about $32,000. Finally, Engrave Wealth Partners LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $34,000. Institutional investors own 68.51% of the company’s stock.
SBUX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Starbucks from $73.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Wolfe Research started coverage on Starbucks in a research note on Friday, April 17th. They issued an “outperform” rating and a $86.00 price objective on the stock. BidaskClub downgraded Starbucks from a “hold” rating to a “sell” rating in a research note on Wednesday, June 24th. Telsey Advisory Group dropped their target price 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. Finally, Royal Bank of Canada lowered their price objective on Starbucks from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, June 11th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $82.56.
Shares of SBUX stock traded up $0.08 during trading hours on Tuesday, hitting $72.73. 8,753,043 shares of the company’s stock traded hands, compared to its average volume of 11,916,609. The stock’s fifty day simple moving average is $76.31 and its two-hundred day simple moving average is $78.50. Starbucks Co. has a 12-month low of $50.02 and a 12-month high of $99.72. The stock has a market cap of $86.79 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 6.72 and a beta of 0.79.
Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 28th. The coffee company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Starbucks had a net margin of 12.71% and a negative return on equity of 50.19%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. Starbucks’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Starbucks Co. will post 0.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.64 annualized dividend and a dividend yield of 2.25%. Starbucks’s payout ratio 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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