Bremer Trust National Association decreased its stake in Starbucks Corp. (NASDAQ:SBUX) by 1.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,684 shares of the coffee company’s stock after selling 433 shares during the period. Bremer Trust National Association’s holdings in Starbucks Corp. were worth $2,256,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in SBUX. Vanguard Group Inc. increased its stake in Starbucks Corp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 86,325,173 shares of the coffee company’s stock valued at $4,930,894,000 after buying an additional 715,837 shares during the period. Capital World Investors increased its stake in Starbucks Corp. by 8.1% in the second quarter. Capital World Investors now owns 26,626,026 shares of the coffee company’s stock valued at $1,520,879,000 after buying an additional 2,000,107 shares during the period. Janus Capital Management LLC increased its stake in Starbucks Corp. by 8.7% in the second quarter. Janus Capital Management LLC now owns 21,122,832 shares of the coffee company’s stock valued at $1,206,513,000 after buying an additional 1,691,400 shares during the period. BlackRock Group LTD increased its stake in Starbucks Corp. by 1.7% in the second quarter. BlackRock Group LTD now owns 12,722,311 shares of the coffee company’s stock valued at $726,698,000 after buying an additional 216,480 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Starbucks Corp. by 8.8% in the second quarter. Alliancebernstein L.P. now owns 12,179,597 shares of the coffee company’s stock valued at $695,699,000 after buying an additional 983,157 shares during the period. Institutional investors and hedge funds own 69.08% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during mid-day trading on Friday, hitting $57.43. The company’s stock had a trading volume of 3,228,848 shares. Starbucks Corp. has a 12-month low of $50.84 and a 12-month high of $62.54. The company has a market cap of $83.58 billion, a PE ratio of 30.23 and a beta of 0.77. The stock has a 50-day moving average of $54.05 and a 200-day moving average of $55.23.
Starbucks Corp. (NASDAQ:SBUX) last released its earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.68 billion. Starbucks Corp. had a return on equity of 49.88% and a net margin of 13.22%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts forecast that Starbucks Corp. will post $2.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s payout ratio is presently 52.63%.
Several analysts have recently weighed in on SBUX shares. decreased their target price on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, September 28th. RBC Capital Markets decreased their price objective on Starbucks Corp. from $68.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 19th. Macquarie upgraded Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 14th. Deutsche Bank AG decreased their price objective on Starbucks Corp. from $67.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, November 1st. Finally, Robert W. Baird restated an “outperform” rating on shares of Starbucks Corp. in a report on Thursday, September 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Starbucks Corp. currently has an average rating of “Buy” and a consensus target price of $63.72.
Starbucks Corp. Company Profile
Starbucks Corporation is the roaster, marketer and retailer of specialty coffee. The Company purchases and roasts coffees that it sells, along with coffee, tea and other beverages, and a range of fresh food items, through Company-operated stores. It also sells a range of coffee and tea products and licenses its trademarks through other channels, such as licensed stores, grocery and national foodservice accounts.