RMB Capital Management LLC increased its stake in shares of Starbucks Corp. (NASDAQ:SBUX) by 433.8% during the third quarter, Holdings Channel reports. The firm owned 48,974 shares of the coffee company’s stock after buying an additional 39,800 shares during the period. RMB Capital Management LLC’s holdings in Starbucks Corp. were worth $2,651,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its position in Starbucks Corp. by 4.9% in the second quarter. Fulton Bank N.A. now owns 47,184 shares of the coffee company’s stock valued at $2,695,000 after buying an additional 2,184 shares during the period. Kistler Tiffany Companies LLC increased its position in Starbucks Corp. by 138.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,556 shares of the coffee company’s stock valued at $146,000 after buying an additional 1,484 shares during the period. Boltwood Capital Management bought a new position in Starbucks Corp. during the second quarter valued at approximately $826,000. First Financial Bank N.A. Trust Division increased its position in Starbucks Corp. by 1.7% in the second quarter. First Financial Bank N.A. Trust Division now owns 8,885 shares of the coffee company’s stock valued at $508,000 after buying an additional 150 shares during the period. Finally, Integrated Investment Consultants LLC increased its position in Starbucks Corp. by 2.5% in the second quarter. Integrated Investment Consultants LLC now owns 10,620 shares of the coffee company’s stock valued at $607,000 after buying an additional 264 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.
Starbucks Corp. (NASDAQ:SBUX) traded up 0.28% on Monday, reaching $57.59. 8,750,925 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $54.16 and a 200-day moving average price of $55.22. The company has a market capitalization of $83.82 billion, a P/E ratio of 30.31 and a beta of 0.77. Starbucks Corp. has a 1-year low of $50.84 and a 1-year high of $62.54.
Starbucks Corp. (NASDAQ:SBUX) last announced its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. Starbucks Corp. had a net margin of 13.22% and a return on equity of 49.88%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm posted $0.43 EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Equities research analysts expect that Starbucks Corp. will post $2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Starbucks Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, November 15th. Starbucks Corp.’s dividend payout ratio (DPR) is 52.63%.
A number of research analysts recently commented on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Starbucks Corp. in a report on Wednesday, August 3rd. Wedbush reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Starbucks Corp. in a report on Tuesday, August 2nd. Robert W. Baird reaffirmed an “outperform” rating on shares of Starbucks Corp. in a report on Thursday, September 8th. Vetr downgraded shares of Starbucks Corp. from a “strong-buy” rating to a “buy” rating and set a $62.81 price target for the company. in a report on Tuesday, November 22nd. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $68.00 price target on shares of Starbucks Corp. in a report on Friday, August 5th. Seven research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $63.72.
About Starbucks Corp.
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.