Bailard Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 148.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,940 shares of the coffee company’s stock after purchasing an additional 5,340 shares during the quarter. Bailard Inc.’s holdings in Starbucks were worth $437,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Bedel Financial Consulting Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $104,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $118,000. Trilogy Capital Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $135,000. Guidant Wealth Advisors increased its holdings in shares of Starbucks by 2,070.6% during the second quarter. Guidant Wealth Advisors now owns 8,921 shares of the coffee company’s stock valued at $144,000 after acquiring an additional 8,510 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $159,000. Institutional investors and hedge funds own 72.90% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Piper Jaffray Companies downgraded shares of Starbucks from an “overweight” rating to a “neutral” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a research note on Thursday, August 16th. Oppenheimer cut their price target on shares of Starbucks from $66.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 27th. Finally, Wedbush cut their target price on Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $59.75.
In other news, Director Myron E. Ullman III sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,511,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.48% of the stock is owned by company insiders.
Shares of SBUX opened at $54.00 on Wednesday. The stock has a market cap of $72.26 billion, a price-to-earnings ratio of 26.21, a P/E/G ratio of 1.59 and a beta of 0.63. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 1.01. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 26th. The coffee company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.25 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. Starbucks’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. analysts expect that Starbucks Co. will post 2.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Thursday, August 9th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.67%. This is a positive change from Starbucks’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, August 8th. Starbucks’s dividend payout ratio (DPR) is 69.90%.
Starbucks announced that its Board of Directors has approved a share repurchase program on Thursday, April 26th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the coffee company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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