BB&T Securities LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 565,108 shares of the coffee company’s stock after buying an additional 53,912 shares during the period. BB&T Securities LLC’s holdings in Starbucks were worth $27,605,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Bedel Financial Consulting Inc. purchased a new position in shares of Starbucks in the first quarter worth about $104,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Starbucks in the first quarter worth about $118,000. RPg Family Wealth Advisory LLC increased its holdings in shares of Starbucks by 155.6% in the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock worth $134,000 after buying an additional 1,673 shares during the period. Trilogy Capital Inc. purchased a new position in shares of Starbucks in the first quarter worth about $135,000. Finally, Guidant Wealth Advisors increased its holdings in shares of Starbucks by 2,070.6% in the second quarter. Guidant Wealth Advisors now owns 8,921 shares of the coffee company’s stock worth $144,000 after buying an additional 8,510 shares during the period. Hedge funds and other institutional investors own 72.16% of the company’s stock.
Starbucks stock opened at $53.79 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The company has a market cap of $72.11 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.59 and a beta of 0.64. 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 quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The business had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. analysts forecast that Starbucks Co. will post 2.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Thursday, August 9th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.68%. This is a boost from Starbucks’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, August 8th. Starbucks’s payout ratio is presently 69.90%.
Several research firms have recently commented on SBUX. ValuEngine upgraded Starbucks from a “strong sell” rating to a “sell” rating in a report on Saturday, July 14th. BMO Capital Markets cut their target price on Starbucks from $58.00 to $56.00 and set a “market perform” rating on the stock in a research note on Wednesday, June 20th. Wedbush cut their target price on Starbucks from $58.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 20th. Telsey Advisory Group cut their target price on Starbucks from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 17th. Finally, Stephens cut their target price on Starbucks from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $60.21.
In other Starbucks news, Director Myron E. Ullman III sold 15,000 shares of Starbucks stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the sale, the director now directly owns 29,000 shares of the company’s stock, valued at approximately $1,511,770. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Javier G. Teruel sold 166,666 shares of Starbucks 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,666 shares of company stock worth $10,374,948. Insiders own 3.48% of the company’s stock.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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