Gamco Investors INC. ET AL lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,395 shares of the coffee company’s stock after purchasing an additional 115 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Starbucks were worth $3,219,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in SBUX. Cowen Prime Services LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $26,000. Paragon Capital Management LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $29,000. Northern Oak Wealth Management Inc. boosted its position in shares of Starbucks by 95.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 177 shares during the period. C J Advisory Inc acquired a new position in shares of Starbucks in the 1st quarter valued at $34,000. Finally, Atlas Capital Advisors LLC boosted its position in shares of Starbucks by 53.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.
SBUX opened at $90.48 on Friday. Starbucks Co. has a fifty-two week low of $54.10 and a fifty-two week high of $99.72. The business has a 50-day moving average of $95.75 and a 200-day moving average of $82.79. The company has a market capitalization of $108.15 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.56.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the business earned $0.62 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 2.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.
In related news, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total value of $621,284.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Javier G. Teruel sold 59,838 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. Insiders sold a total of 142,767 shares of company stock worth $13,690,565 over the last three months. 3.98% of the stock is owned by company insiders.
A number of brokerages have commented on SBUX. Barclays raised their price objective on Starbucks from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Stephens raised their price objective on Starbucks from $72.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Credit Suisse Group began coverage on Starbucks in a research report on Tuesday, June 25th. They set an “outperform” rating and a $92.00 price objective for the company. Wedbush raised their price objective on Starbucks from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Oppenheimer raised their price objective on Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $89.53.
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 beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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