Phoenix Holdings Ltd. raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 31.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,209 shares of the coffee company’s stock after purchasing an additional 6,827 shares during the quarter. Phoenix Holdings Ltd.’s holdings in Starbucks were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. HighMark Wealth Management LLC grew its stake in Starbucks by 351.9% in the 2nd quarter. HighMark Wealth Management LLC now owns 366 shares of the coffee company’s stock valued at $27,000 after purchasing an additional 285 shares during the period. Centerpoint Advisors LLC grew its stake in Starbucks by 4,644.4% in the 2nd quarter. Centerpoint Advisors LLC now owns 427 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 418 shares during the period. Shine Investment Advisory Services Inc. grew its stake in Starbucks by 63.5% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the coffee company’s stock valued at $33,000 after purchasing an additional 176 shares during the period. Column Capital Advisors LLC grew its stake in 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. Finally, AlphaCore Capital LLC bought a new position in Starbucks in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 68.51% of the company’s stock.
NASDAQ:SBUX traded down $0.46 during trading hours on Thursday, reaching $77.17. 303,336 shares of the company traded hands, compared to its average volume of 7,719,903. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $98.14. The business’s 50-day moving average price is $75.63 and its two-hundred day moving average price is $75.92. The stock has a market capitalization of $92.34 billion, a P/E ratio of 69.58, a P/E/G ratio of 5.91 and a beta of 0.78.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue was down 38.1% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 0.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, August 6th. Starbucks’s dividend payout ratio is currently 57.95%.
In related news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $74.09, for a total value of $315,030.68. Following the completion of the sale, the director now owns 22,752 shares of the company’s stock, valued at $1,685,695.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total value of $165,280.00. The disclosure for this sale can be found here. Insiders sold 10,504 shares of company stock valued at $810,521 in the last 90 days. Company insiders own 0.41% of the company’s stock.
A number of brokerages have issued reports on SBUX. MKM Partners upped their price objective on Starbucks from $74.00 to $79.00 in a research note on Wednesday, July 29th. Jefferies Financial Group upped their price objective on Starbucks from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Stifel Nicolaus increased their price target on Starbucks from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Royal Bank of Canada cut their price target on Starbucks from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, June 11th. Finally, Oppenheimer dropped their price objective on Starbucks from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $84.04.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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