Lcnb Corp lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,394 shares of the coffee company’s stock after acquiring an additional 1,239 shares during the quarter. Lcnb Corp’s holdings in Starbucks were worth $508,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SBUX. BB&T Securities LLC raised its holdings in shares of Starbucks by 10.5% during the 2nd quarter. BB&T Securities LLC now owns 565,108 shares of the coffee company’s stock worth $27,605,000 after acquiring an additional 53,912 shares in the last quarter. Icon Wealth Partners LLC raised its holdings in shares of Starbucks by 79.7% during the 2nd quarter. Icon Wealth Partners LLC now owns 4,172 shares of the coffee company’s stock worth $204,000 after acquiring an additional 1,850 shares in the last quarter. Twin Capital Management Inc. raised its holdings in shares of Starbucks by 1.1% during the 2nd quarter. Twin Capital Management Inc. now owns 136,840 shares of the coffee company’s stock worth $6,685,000 after acquiring an additional 1,510 shares in the last quarter. CSat Investment Advisory L.P. purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $290,000. Finally, Van ECK Associates Corp raised its holdings in shares of Starbucks by 10.3% during the 2nd quarter. Van ECK Associates Corp now owns 693,878 shares of the coffee company’s stock worth $33,896,000 after acquiring an additional 64,523 shares in the last quarter. Institutional investors own 72.16% of the company’s stock.
Several brokerages have recently issued reports on SBUX. Piper Jaffray Companies cut Starbucks from an “overweight” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Tuesday, August 21st. Zacks Investment Research raised Starbucks from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 21st. BidaskClub raised Starbucks from a “sell” rating to a “hold” rating in a report on Thursday, August 16th. Oppenheimer decreased their price objective on Starbucks from $66.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 27th. Finally, Wedbush decreased their price objective on Starbucks from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Starbucks presently has an average rating of “Hold” and an average target price of $60.21.
NASDAQ:SBUX opened at $53.79 on Thursday. Starbucks Co. has a fifty-two week low of $47.37 and a fifty-two week high of $61.94. The firm has a market cap of $72.11 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.59 and a beta of 0.64. 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 (NASDAQ:SBUX) last released its quarterly earnings results 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. Starbucks had a return on equity of 67.11% and a net margin of 18.87%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. Starbucks’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts forecast that Starbucks Co. will post 2.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Thursday, August 9th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, August 8th. This is an increase from Starbucks’s previous quarterly dividend of $0.30. Starbucks’s dividend payout ratio is 69.90%.
In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $52.70, for a total value of $8,783,298.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $52.13, for a total value of $781,950.00. Following the completion of the transaction, the director now directly owns 29,000 shares in the company, valued at approximately $1,511,770. The disclosure for this sale can be found here. Insiders sold a total of 196,666 shares of company stock worth $10,374,948 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
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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