Kavar Capital Partners LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,026 shares of the coffee company’s stock after purchasing an additional 1,484 shares during the quarter. Starbucks comprises about 2.1% of Kavar Capital Partners LLC’s investment portfolio, making the stock its 12th largest position. Kavar Capital Partners LLC’s holdings in Starbucks were worth $5,283,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. White Pine Investment CO raised its position in shares of Starbucks by 1.7% during the second quarter. White Pine Investment CO now owns 65,437 shares of the coffee company’s stock worth $5,486,000 after acquiring an additional 1,100 shares during the last quarter. Lyell Wealth Management LP raised its position in shares of Starbucks by 2.6% during the second quarter. Lyell Wealth Management LP now owns 12,868 shares of the coffee company’s stock worth $1,079,000 after acquiring an additional 325 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Starbucks by 57.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 506,639 shares of the coffee company’s stock worth $42,649,000 after acquiring an additional 185,658 shares during the last quarter. Close Asset Management Ltd raised its position in shares of Starbucks by 13.3% during the second quarter. Close Asset Management Ltd now owns 139,711 shares of the coffee company’s stock worth $11,711,000 after acquiring an additional 16,380 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its position in shares of Starbucks by 6.5% during the second quarter. Sunbelt Securities Inc. now owns 9,370 shares of the coffee company’s stock worth $785,000 after acquiring an additional 574 shares during the last quarter. 72.54% of the stock is currently owned by institutional investors.
NASDAQ:SBUX traded up $0.50 on Thursday, reaching $95.42. The company’s stock had a trading volume of 303,840 shares, compared to its average volume of 7,953,828. Starbucks Co. has a 1-year low of $52.30 and a 1-year high of $99.72. The stock has a market cap of $113.61 billion, a price-to-earnings ratio of 39.42, a PEG ratio of 2.62 and a beta of 0.55. The stock’s 50-day moving average price is $91.38.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 2.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.51%. Starbucks’s payout ratio is 59.50%.
SBUX has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded Starbucks from an “overweight” rating to a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Co downgraded Starbucks from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $83.00 to $80.00 in a research report on Friday, April 26th. They noted that the move was a valuation call. OTR Global upgraded Starbucks to a “positive” rating in a research report on Tuesday, July 16th. UBS Group boosted their target price on Starbucks from $78.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Robert W. Baird downgraded Starbucks from an “outperform” rating to a “neutral” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Starbucks currently has an average rating of “Buy” and an average target price of $89.53.
In other news, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $95.00, for a total transaction of $947,435.00. Following the completion of the transaction, the director now directly owns 28,390 shares of the company’s stock, valued at $2,697,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin R. Johnson sold 23,390 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,801 shares of company stock valued at $6,301,684. Insiders own 3.98% 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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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