Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 115.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 697,709 shares of the coffee company’s stock after buying an additional 373,651 shares during the period. Commerzbank Aktiengesellschaft FI owned about 0.05% of Starbucks worth $34,083,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Starbucks by 0.6% in the second quarter. BlackRock Inc. now owns 84,654,465 shares of the coffee company’s stock valued at $4,135,368,000 after acquiring an additional 477,124 shares during the period. Polen Capital Management LLC boosted its position in shares of Starbucks by 0.5% during the second quarter. Polen Capital Management LLC now owns 12,286,385 shares of the coffee company’s stock worth $600,190,000 after buying an additional 56,588 shares during the period. Parnassus Investments CA boosted its position in shares of Starbucks by 26.8% during the second quarter. Parnassus Investments CA now owns 12,052,546 shares of the coffee company’s stock worth $588,767,000 after buying an additional 2,543,697 shares during the period. American Century Companies Inc. boosted its position in shares of Starbucks by 0.7% during the second quarter. American Century Companies Inc. now owns 5,450,178 shares of the coffee company’s stock worth $266,241,000 after buying an additional 38,223 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Starbucks by 6.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,280,149 shares of the coffee company’s stock worth $257,935,000 after buying an additional 308,487 shares during the period. 72.16% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Myron E. Ullman III sold 99,166 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at $1,596,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rosalind G. Brewer acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of $54.04 per share, with a total value of $270,200.00. Following the transaction, the insider now directly owns 7,302 shares of the company’s stock, valued at approximately $394,600.08. The disclosure for this purchase can be found here. Insiders have sold 295,832 shares of company stock valued at $15,834,037 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
NASDAQ:SBUX traded down $0.14 during trading hours on Friday, reaching $54.75. The company’s stock had a trading volume of 6,417,086 shares, compared to its average volume of 7,908,767. The stock has a market capitalization of $74.16 billion, a PE ratio of 23.39, a P/E/G ratio of 1.63 and a beta of 0.64. Starbucks Co. has a one year low of $47.37 and a one year high of $61.94. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54.
Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.87% and a return on equity of 67.11%. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same period in the prior year, the company posted $0.55 earnings per share. Starbucks’s revenue for the quarter was up 11.5% on a year-over-year basis. sell-side analysts forecast that Starbucks Co. will post 2.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Thursday, August 9th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.63%. This is a boost from Starbucks’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, August 8th. Starbucks’s dividend payout ratio is 69.90%.
Several equities analysts have recently issued reports on SBUX shares. Wedbush reduced their price objective on Starbucks from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Friday, July 27th. JPMorgan Chase & Co. dropped their target price on Starbucks from $64.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, June 21st. Barclays dropped their target price on Starbucks to $60.00 in a report on Wednesday, June 20th. BidaskClub cut Starbucks from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Finally, Sanford C. Bernstein dropped their target price on Starbucks from $64.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, June 26th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $60.02.
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 coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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