Lourd Capital LLC reduced its position in Starbucks Corp. (NASDAQ:SBUX) by 6.4% during the third quarter, Holdings Channel reports. The institutional investor owned 5,007 shares of the coffee company’s stock after selling 340 shares during the period. Lourd Capital LLC’s holdings in Starbucks Corp. were worth $271,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Farmers National Bank purchased a new stake in Starbucks Corp. during the second quarter worth approximately $101,000. Cascade Investment Advisors Inc. purchased a new stake in Starbucks Corp. during the second quarter worth approximately $107,000. Valley National Advisers Inc. increased its stake in Starbucks Corp. by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,062 shares of the coffee company’s stock worth $118,000 after buying an additional 6 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Starbucks Corp. during the second quarter worth approximately $123,000. Finally, Proficio Capital Partners LLC increased its stake in Starbucks Corp. by 5.2% in the second quarter. Proficio Capital Partners LLC now owns 2,205 shares of the coffee company’s stock worth $128,000 after buying an additional 109 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.
Shares of Starbucks Corp. (NASDAQ:SBUX) traded down 0.28% during mid-day trading on Friday, reaching $57.43. The company’s stock had a trading volume of 3,228,848 shares. The stock has a 50 day moving average of $54.05 and a 200-day moving average of $55.23. The stock has a market cap of $83.58 billion, a P/E ratio of 30.23 and a beta of 0.77. Starbucks Corp. has a one year low of $50.84 and a one year high of $62.54.
Starbucks Corp. (NASDAQ:SBUX) last released its quarterly earnings results on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.68 billion. Starbucks Corp. had a net margin of 13.22% and a return on equity of 49.88%. The business’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 earned $0.43 EPS. On average, equities research analysts expect that Starbucks Corp. will post $2.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, November 15th. This is a positive change from Starbucks Corp.’s previous quarterly dividend of $0.20. Starbucks Corp.’s payout ratio is presently 52.63%.
A number of equities research analysts recently commented on SBUX shares. Morgan Stanley reiterated a “buy” rating and issued a $64.00 target price on shares of Starbucks Corp. in a research report on Sunday, August 14th. Vetr downgraded Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $61.76 price objective on the stock. in a research report on Tuesday, August 9th. BTIG Research set a $64.00 price objective on Starbucks Corp. and gave the company a “buy” rating in a research report on Monday, September 12th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Starbucks Corp. in a research report on Friday, September 9th. Finally, Jefferies Group restated a “buy” rating and set a $65.00 price objective on shares of Starbucks Corp. in a research report on Wednesday, August 3rd. Seven analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Starbucks Corp. presently has a consensus rating of “Buy” and an average price target 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.