Mitsubishi UFJ Trust & Banking Corp boosted its position in Starbucks Co. (NASDAQ:SBUX) by 1.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,146,882 shares of the coffee company’s stock after buying an additional 12,690 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Starbucks were worth $95,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Enterprise Trust & Investment Co bought a new stake in Starbucks during the second quarter valued at $25,000. Northern Oak Wealth Management Inc. boosted its stake in Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after buying an additional 177 shares during the period. Paragon Capital Management LLC bought a new stake in Starbucks during the first quarter valued at $29,000. Atlas Capital Advisors LLC boosted its stake in Starbucks by 53.3% during the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after buying an additional 145 shares during the period. Finally, C J Advisory Inc bought a new stake in Starbucks during the first quarter valued at $34,000. 72.32% of the stock is owned by institutional investors and hedge funds.
SBUX has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Starbucks from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. BMO Capital Markets lifted their price objective on Starbucks to $84.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Robert W. Baird lowered Starbucks from an “outperform” rating to a “neutral” rating in a research note on Monday, July 29th. Finally, Goldman Sachs Group initiated coverage on Starbucks in a research note on Monday, July 29th. They set a “buy” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $89.53.
SBUX stock traded down $1.79 during mid-day trading on Friday, hitting $94.70. 6,912,603 shares of the stock were exchanged, compared to its average volume of 7,819,125. The business has a fifty day moving average price of $93.42 and a 200 day moving average price of $80.28. Starbucks Co. has a 12 month low of $52.42 and a 12 month high of $99.72. The stock has a market capitalization of $115.50 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 2.66 and a beta of 0.55.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $6.67 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, August 7th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
In other news, Director Javier G. Teruel sold 59,838 shares of Starbucks stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.92, for a total value of $5,799,498.96. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $76.12, for a total value of $759,144.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,639 shares of company stock valued at $12,101,183. Corporate insiders own 3.98% of the company’s stock.
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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