Argus Investors Counsel Inc. lowered its position in shares of Starbucks Corp. (NASDAQ:SBUX) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,250 shares of the coffee company’s stock after selling 400 shares during the period. Argus Investors Counsel Inc.’s holdings in Starbucks Corp. were worth $4,128,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Farmers National Bank purchased a new stake in Starbucks Corp. during the second quarter worth approximately $101,000. Cascade Investment Advisors Inc. bought a new stake in Starbucks Corp. during the second quarter valued at about $107,000. Valley National Advisers Inc. raised 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 valued at $118,000 after buying an additional 6 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Starbucks Corp. during the second quarter valued at about $123,000. Finally, Proficio Capital Partners LLC raised 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 valued at $128,000 after buying an additional 109 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.28% during mid-day trading on Monday, hitting $57.59. The stock had a trading volume of 8,750,925 shares. The stock has a market cap of $83.82 billion, a P/E ratio of 30.31 and a beta of 0.77. The firm has a 50-day moving average of $54.05 and a 200-day moving average of $55.23. Starbucks Corp. has a 52-week low of $50.84 and a 52-week high of $62.54.
Starbucks Corp. (NASDAQ:SBUX) last announced its earnings results on Thursday, November 3rd. The coffee company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company 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 firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. On average, analysts forecast that Starbucks Corp. will post $2.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 17th will be given a $0.25 dividend. This is a positive change from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.73%. Starbucks Corp.’s payout ratio is presently 52.63%.
Several research firms have issued reports on SBUX. RBC Capital Markets reissued an “outperform” rating and set a $64.00 price target on shares of Starbucks Corp. in a report on Monday, November 7th. Vetr raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating and set a $62.13 price target for the company in a report on Thursday, August 4th. Credit Suisse Group AG reissued a “neutral” rating and set a $58.00 price target on shares of Starbucks Corp. in a report on Friday, August 5th. cut their price target on Starbucks Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, September 28th. Finally, Macquarie raised Starbucks Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 14th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Starbucks Corp. presently has an average 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.